Unexpected turn for Ghost: German MTB brand finds a buyer at the last minute

When everything seemed decided and Ghost was preparing to disappear after 33 years of history, a last-minute operation has changed its future. Bike Tree GmbH, the company that recently acquired Haibike and Winora, has also secured the rights to Ghost and announces its intention to keep the German brand alive. The operation does not prevent the closure of its original company nor the loss of jobs and only includes the trademark.

Ghost will continue to exist after an unexpected acquisition operation

The future of Ghost has taken an unexpected turn in a matter of days. On November 3, the closure of the historic German MTB brand after 33 years of activity was announced, after its managers stated that they had not found a viable solution to continue the business. The company was preparing to liquidate its stock and end its operations due to the financial crisis of Accell Group.

However, Ghost will not disappear from the market. Bike Tree GmbH has confirmed the acquisition of the brand and all its intellectual property rights, an operation that will allow the name Ghost to remain within the cycling industry.

The purchasing company belongs to the Singaporean group Tri Star Group/DuTech Holdings Limited, which at the end of October had already acquired the businesses of Winora and Haibike during the insolvency process of Accell Germany.

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With this new move, the three German brands will come under the same ownership, which aims to leverage its experience in product development, brand management, and distribution to strengthen its market presence.

Bike Tree's intention is to continue developing Ghost and strengthen its commercial position. For now, the amount of the acquisition has not been disclosed nor when new models might be presented.

The brand survives, but not its business structure

Although the news radically changes the future of Ghost as a bicycle manufacturer, there is an important difference between saving the brand and maintaining the company that operated until now.

The acquisition affects the commercial and intellectual rights of Ghost, but does not imply the continuity of Ghost-Bikes GmbH, the company established in Waldsassen that was undergoing insolvency proceedings.

The company will be liquidated and its workers will lose their jobs. At the time the insolvency proceedings were opened, Ghost still had 53 employees.

There are also important issues to be resolved for the current owners of Ghost bicycles. The new management has not yet detailed how warranties, availability of spare parts, or after-sales service for previously marketed models will be managed.

A second purchase offer generates controversy

The acquisition also comes with some controversy. After the closure of Ghost was announced, the Swiss company Netcycle AG claimed that it had submitted a proposal to acquire the company and part of the business of components E. Wiener Bike Parts.

According to Netcycle, its project contemplated maintaining business activity, commercial relationships, stock, and jobs. However, the proposal was not accepted.

The managers of the insolvency proceedings offer a different version. Martin Mucha, representative of Ghost during the restructuring, explained to the German media SAZbike that Netcycle had not submitted a binding offer and that its proposal was conditional on requirements that could not be met. The accounts of both parties are contradictory and have not been independently verified.