Linklaters has advised Groupe Bruxelles Lambert (GBL) on the acquisition of a majority stake in Canyon Bicycles GmbH (Canyon). Canyon, based in Koblenz, Germany, is a leading manufacturer of high-quality conventional and electric bicycles. The company is the largest direct-to-consumer supplier in the world in this sector, selling a broad portfolio of road bikes, mountain bikes, gravel bikes and urban bikes directly to end customers via its own e-commerce website. Canyon’s sales have grown by an average of 25 percent annually over the past seven years and currently stand at over 400 million euros.
The Belgian investment company Groupe Bruxelles Lambert (GBL) sees itself as a long-term investor and is listed on Euronext in Brussels. The company has €18 billion in net assets and a market capitalization of €12 billion as of the end of September 2020.
Linklaters advised under the lead of Dr Ralph Drebes and Andreas Müller (both partners, Private Equity, Frankfurt).
