Pon Holdings have announced that they have acquired Cervélo Cycles after successfully concluding negotiations that began last December. Cervélo will continue to operate independently, retaining its unique identity, innovation and premium brand positioning.
This is the same strategy Pon employ with their other PBG properties. They also own the Royal Dutch Gazelle brand and the German manufacturer Derby Cycle of which Pon is a major shareholder. "Cervélo is a unique brand that we are very pleased to bring into Pon Bicycle Group [PBG]," said Janus Smalbraak, CEO Pon Holdings, via press-release. “The Canadian based company's state of the art technology and passion for pushing the limits of engineering has captured the imagination of cyclists around the globe. With Cervélo we believe there is great potential for growth and we are looking forward to working with them to achieve these goals."
Cervélo co-founders Phil White and Gerard Vroomen will both remain with the newly formed Pon Bicycle Group.
White will continue in his present role as Cervélo CEO. Vroomen will assume a part-time role as business development manager within PBG, focusing on special projects for the group. "The opportunity for Cervélo within Pon Bicycle Group, is tremendous," said White, continuing CEO, and co-founder Cervélo. "The combination of Pon's considerable resources and expertise and Cervélo's cutting edge technology will make us stronger and more competitive as we continue to engineer the best bikes on the planet."
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