1 September 2011

Pon Holdings aquires shares in Gazelle Holdings

Koninklijke Gazelle N.V. manufactures and sells a broad range of bicycles and is market leader in the bicycle market in the Netherlands. Pon Holdings, one of the largest family-run businesses in the Netherlands, is an international trading and service company, engaged in a wide range of automotive and other activities.

De Brauw advised Pon Holdings B.V. on the acquisition of the issued and oustanding shares in Gazelle Holding B.V., pursuant to a share purchase agreement dated 18 August 2011 between Gilde Buy-Out Partners and several others (as sellers) and Geveke N.V., a subsidiairy of Pon Holdings B.V.. According to Pon, the acquisition is an important step to grow on the bicycle market. The company hopes to benefit from the rise of the electric bicycle and the growing demand for environmentally friendly modes of transport. The acquisition of Gazelle isn’t Pon’s first step in the bicycle market. In the late nineteenth century the company began as a bicycle company and even manufactured its own “Pon” bicycles.

Team: Bernard Spoor, Joost Steenhuis, Jolling de Pree