6 February 2008
Conglomerate acquires Cannondale
Posted by todd under: Cycling news .
Interesting tidbit from Tuesday’s Wall Street Journal (emphasis mine):
“Canadian consumer products company Dorel Industries Ltd. said it agreed to acquire Cannondale Bicycle Corp., a maker of high-end bicycles, for $190 million to $200 million, subject to Cannondale’s earnings for the year ending June 30. The purchase also includes Sugoi Performance Apparel. Dorel said the acquisition, which is being financed through debt, will immediately boost its earnings. Dorel already makes bicycles through its Pacific Cycle division, whose brands include Schwinn and GT. Dorel said that after the acquisition, its recreational/leisure segment will be split into two operating divisions. The new Cannondale Sports Group will focus on brands sold through independent dealers. Pacific Cycle will become a stand-alone division focused on the mass-merchant channel.”
In fact, I almost ALWAYS wear one (while riding a bike anyway). (On the other hand, if YOU don't want to wear a helmet, I have no problem with it.) I don't remember what happened on this particular day. Fortunately for all of us it makes for a less-nerdly picture. My exceptionally talented professional photographer friend Charles Bertram took this photo.
I asked my 6-year-old son, Caleb, an avid bicyclist and artist, to draw a bike for me. I think he did a great job!
