Accell Group sells US business for $1

[Deleted member 803]

Accell Group was thrilled to unload its US based business and did so for future payout up to $15M. The business was sold to Regent LP for $1. Regent LP will distribute the brands in the US. The losses were so great that even dumping the business for next to nothing was viewed very favorably by shareholders.

Now I know that others will extol the health of the ebike business in the US but the truth is that eBike vendors are chasing a dying IBD distribution channel, and there is not enough lift from ebike sales to offset non ebike business.

I wish it were not so as I believe in the potential of ebikes, but reality tells us otherwise. Ride share, successful or not, continues to forestall ebike purchases.

Sad situation...........

https://www.bicycleretailer.com/sites/default/files/downloads/article/accell_group_press_release.pdf

 

[Ravi Kempaiah]

The dire situation of E-bike industry in the US is a result of people who are trying to make quick money. They have no investment (time or energy-wise) and they want returns and want it quick.

 

[rich c]

I think you should read your own link Neil. They didn't sell off Haibike, Raleigh, nor Ghost.

 

[Deleted member 803]

I think you should read your own link Neil. They didn't sell off Haibike, Raleigh, nor Ghost.

The point of the post is that Accell Group will no longer conduct business in North American. They will allow 3rd parties to distributed brands they own. The amount of the transaction shows how desperate they were to get out of the US as a business entity.

 

[rich c]

The point of the post is that Accell Group will no longer conduct business in North American. They will allow 3rd parties to distributed brands they own. The amount of the transaction shows how desperate they were to get out of the US as a business entity.

The point of the post was to express your opinion then? Lots of companies out source distribution in the United States, it doesn't mean they don't want to do business.