Pon Holdings becomes one of biggest bike makers after deal to acquire Cannondale and Schwinn
October 12, 2021
Pon Holdings, which owns the Gazelle, Santa Cruz and Urban Arrow, has reached a deal to acquire the Cannondale, Schwinn and Mongoose bicycle brands from Dorel Industries for $810 million. “Together we can further cater to the ever growing demand for quality and electric bikes, whether it’s for urban use, leisure or sports,” Pon Holdings CEO Janus Smalbraak said in a statement.
Recent News
American Airlines Expands Service to Caribbean and Latin America
As the travel industry experiences a post-pandemic resurgence, American Airlines is capitalizing on the growing demand for vacation destinations in Latin America and the Caribbean.
Indiana Judge Rules Tacos and Burritos Are Sandwiches
An Indiana judge has made a significant decision in his court that could change the food world’s description of their favorite Mexican-style foods.
Elon Musk Confirms Twitter Is Now X.com
The bird is gone and officially replaced with X.
Texas Braces for Record-Breaking Power Demand
Texas is bracing for a record-breaking power demand next week as a spring heat wave drives residents and businesses to ramp up air conditioning usage.