Dutch bicycle-maker Accell in talks to acquire UK’s Raleigh Cycle
04 Apr 2012
Dutch bicycle-maker Accell Group N V yesterday said that it was in exclusive talks to acquire the 125-year old British bicycle brand Raleigh Cycle Limited.
The Netherlands-based Accell, headquartered at Heerenveen said in a brief statement that it ''is engaged in exclusive discussions with Raleigh Cycle Limited and its shareholders, which, if successfully concluded, could lead to the acquisition of Raleigh by Accell Group.''
Nottingham, UK-based Raleigh was founded in 1887 by Sir Frank Bowden, who bought a small bike company called Woodhead, Angois and Ellis in Raleigh Street, which was then making three cycles a week.
Within three years, Bowden established Raleigh Bicycle Company and in the next three years the company became the biggest bicycle manufacturer in the world.
After a series of acquisitions in the 1930s, Raleigh's massive production continued till the 1950s and 1960s, after which the British market began to decline with the increasing popularity of the automobile.
In 1960, Investments acquired Raleigh and merged British Cycle Corporation with Raleigh to form TI- Raleigh. Although it made popular bikes like the Chopper, Grifter and Burner in the 1970s and 1980s, the company went on a decline due to poor management.
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