TSG Consumer Partners has acquired a “significant” minority stake in Canyon Bicycles, a German bicycle company. No financial terms were disclosed.
San Francisco, CA and Koblenz, Germany – June 9, 2016 – TSG Consumer Partners LLC (“TSG”), a leading strategic equity investor in high-growth consumer brands, today announced that it has completed a significant minority investment in Canyon Bicycles GmbH (“Canyon”). Financial terms of the transaction were not disclosed.
Headquartered in Koblenz, Germany, Canyon is the leading direct-to-consumer bicycle company. Canyon, which engineers, develops, designs and assembles high-performance bikes, bike parts, accessories and apparel, stands out as a market-leader with its exceptional technology, design, and performance.
Blythe Jack, Managing Director at TSG, said, “TSG is thrilled to partner with Canyon and provide our operational and consumer-focused expertise to help Canyon navigate its next stage of growth and development. The partnership will enable the expansion of Canyon into the U.S. and, as a result, the Company’s further development as a leading global cycling brand. We are excited to collaborate with Canyon’s talented management team to bring world-class products to more customers around the world, while staying true to its commitment to providing high-quality, innovative and exceptionally designed products.”
Roman Arnold, founder and CEO of Canyon, said “We are excited to welcome TSG as a partner to work alongside our company as we prepare for the launch of Canyon in the U.S. market. Our vision, values, and goals are very much aligned with TSG’s, and we look forward to accelerating our efforts to expand globally.”
About Canyon Bicycles GmbH
Founded in 1985 as Radsport Arnold, the company has operated under the name Canyon Bicycles GmbH since 2001. The Koblenz-based bicycle company engineers, develops, designs, and assembles high-performance road racing, mountain, triathlon, urban and fitness bikes, as well as bicycle parts, accessories, and apparel and sells its products consumer-direct via its website, www.canyon.com. Canyon bikes are ridden globally at all levels of the sport. The company sponsors top-ranked road and mountain bike teams, including the world number-one ranked Movistar Team, and the reigning triathlon world-champion, Jan Frodeno. For many consecutive years Canyon has been voted as one of the most demanded road and mountain bike brands in Europe, and has won numerous independent tests and awards, including the prestigious German Design Award.
About TSG Consumer Partners
TSG Consumer Partners, LLC is a leading investment firm with $5 billion of assets under management, focused exclusively on the branded consumer sector. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, beauty, personal care, household and apparel & accessories, and e-commerce sectors. Representative past and present partner companies include vitaminwater, thinkThin, popchips, Muscle Milk, Yard House, Stumptown, Pabst, Planet Fitness, REVOLVE, PAIGE, Smashbox Cosmetics, Pureology, Sexy Hair, e.l.f. cosmetics and IT Cosmetics.