Pon Holdings acquires Canada-based Cervélo Cycles
Cervélo Cycles co-founders Phil White and Gerard Vroomen will continue with Pon Bicycle Group.
Pon Holdings, an international trading and services company from The Netherlands, announced that it has acquired the Canada-based bike manufacturer Cervélo Cycles today.
According to a recent press release, Cervélo Cycles co-founders Phil White and Gerard Vroomen will continue with Pon Bicycle Group. White will stay on as the CEO of Cervélo and Vroomen will take on a part-time role with Pon Bicycle Group as a Business Development Manager.
“The opportunity for Cervélo within Pon Bicycle Group, is tremendous,” White said. “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.”
It was reported that the pair entered into a financial agreement at the end of last year, however, it took several months for the deal to be completed.
“Cervélo is a unique brand that we are very pleased to bring into Pon Bicycle Group (PBG),” said Janus Smalbraak, CEO Pon Holdings. “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.”
