ZEG, the large European buying group of bicycle retailers, has agreed to acquire the bike unit of bankrupt Kettler. The group is set to take over both the manufacturing facilities and Kettler’s circa 80 employees.
As reported, Kettler announced three weeks ago, that, as a part of its re-structuring plans, it was determined to maintain its four divisions – bicycles, fitness equipment, garden furniture and toys.
For its part, ZEG continues to acquire well-know bike brands after it had done so with Wanderer and Hercules in 2013 and 2014, respectively. The retail group said, however, that it was not going to offer the Kettler products to its affiliated retailers on an exclusive basis, but to the entire market.
ZEG plans to found a new subsidiary called Kettler Alu-Rad GmbH which will run the newly acquired brand. The deal is yet subject to the approval of Kettler’s creditors.