Pinarello could be on sale

Road 14/12/22 15:24 Migue A.

The good results of the brand in recent years have led the investment fund that owns Pinarello to consider selling it in what is, on the other hand, a common move for this type of entity, as it considers the investment made at the time to have been amortised.

L Catterton seeks a buyer for Pinarello

The investment fund that acquired Pinarello in 2016 could be considering selling the brand next year, according to the latest rumours, after a very successful venture that has seen Pinarello almost double its turnover in recent years.

The company that supplies bikes to the all-powerful INEOS Grenadiers has established over the last few seasons the image of an elite and exclusive bike, a true luxury product. In fact, Pinarello, despite the pandemic, has gone from an annual turnover of 50 million euros to 90 million, with sales growing by 24% in the last year alone.

Pinarello CEO Antonio Dus believes this success is due to the fact that after the pandemic "there was an increased demand for bikes that pushed enthusiasts towards high-end bikes like ours".

The overall forecast for the bicycle market is for steady growth until 2027, so L Catterton has decided that it is a good time to make a profit from the sale of the brand at a time that could be very attractive to new investors.

Rumours suggest that the Accell group, owner of other brands in the sector such as Haibike, Winoura, Ghost, Koga and Lapierre, may have shown interest in adding Pinarello to its extensive line-up, especially when this group received a strong investment boost last June following its acquisition by the KKR investment group.

A move that only confirms the growing interest in the world of cycling for investment funds, which find in this market a safe bet. This is demonstrated by the multiple movements that have taken place recently, such as the sale in June of Canyon to LRMR Ventures and SC Holdings; or that of Colnago, which was still in the hands of its legendary founder Ernesto Colnago, to Chimera Investments LLC.



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