IN BRIEF
The administrators of the Dutch group Accell, bankrupt since August, are selling the rights to the Batavus, Koga and Babboe brands to the Singapore-based group Dutech. The deal also includes Accell’s IT platform and its operations in Hungary, including the bicycle factory. TPO specifies that Sparta is not part of it. NL Times states that the financial terms have not been disclosed, and TPO that Dutech is still in talks over the German arm, with Winora and Haibike.
Batavus, Koga and Babboe have a new owner. The administrators handling Accell’s bankruptcy announced on Friday 9 October the sale of the rights to these three brands to Singapore-based Dutech Holdings, which had already made an offer for Accell last summer.
What Dutech takes over from Accell
Besides the three brands, the deal includes Accell’s IT platform and its Hungarian operations, among them the country’s bicycle factory. Some of the staff could follow, with no figure at this stage. NL Times specifies that the IT platform will only pass to Dutech later, as the administrators are still using it to wind up the bankruptcy. The trade magazine Nieuwsfiets, quoted by TPO, adds that this is an asset purchase agreement that also covers the Loekie, Carqon and XLC brands.
TPO states that Sparta stays out, as does the parts supplier Juncker Bike Parts. NL Times writes that the sale of other activities is still under negotiation, including the spare parts division. TPO also writes that Dutech is in talks over Accell’s German arm, with Winora and Haibike, which filed for their own insolvency proceedings in Germany in August. TPO, citing the NRC, notes that nothing is known yet about the Raleigh and Lapierre brands, and that separate proceedings concern the French brand Lapierre, with offers possible until 28 October.
A return through the back door
TPO recalls that Dutech had reached a provisional agreement last summer, before backing out to obtain better terms, as a source from the daily NRC indicates. Accell had been declared bankrupt in August, after difficulties stemming from the post-Covid period and large stocks of unsold bikes, compounded by a major recall of Babboe cargo bikes.
The Singaporean group already owns several bicycle and safety brands, including the German brands Kreidler and Prophete, and NL Times states that it employs 3,100 people worldwide. “Batavus, Koga and the other brands are deeply rooted in Dutch cycling culture,” says its chief executive, Johnny Liu, in a statement quoted by TPO. His first priority, he says, is to stabilise the business together with employees, dealers and suppliers.
The administrators say the brands will remain on the market and will be developed by Dutech. That leaves the question of warranties: NL Times reports that a spokesperson could not immediately specify what the takeover means for customers whose bike is still under warranty.
