Canadian outfit buys Cannondale
While this not directly Texas bicycle news many of us have ridden Cannondale bikes.
Dorel Industries has bought Cannondale Bicycle Corporation, the corporation announced Monday.
Dorel, headquartered in Montréal, owns Pacific Cycle, the parent company of Schwinn, GT and Mongoose. The purchase is reported as an all-cash transaction valued between $190 million and $200 million.
The Bethel, Connecticut-based Cannondale, which also holds Sugoi Performance Apparel Company, a clothing brand, was previously held by Pegasus Capital Advisors, which purchased the company in 2003.