Accell Group buys Perseus's Raleigh Cycle for $100m

Perseus Capital and Raleigh Cycle's management have sold the British bicycle business for $100m to Dutch trade player Accell.

The transaction is expected to close at the end of May and is still subject to approval from the German competition authority.

Accell Group is a Dutch bicycle company, listed on the NYSE Euronext in Amsterdam. It has a market capitalisation of €341m.

Company
Raleigh Cycle Limited is a British bicycle business trading under the brands Raleigh and Diamondback.

The company was founded in 1887 in Nottingham. It currently employs around 430 people globally and sold approximately 850,000 bicycles in 2011.

People
Rene Takens is CEO of Raleigh.

Advisers
Management – Cavendish Corporate Finance, Jonathan Buxton, Anya Cummins (Corporate finance).

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