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Merida Strengthens European Presence with $19M Stake in German Distributor, Boosting CEE Bike Industry
2024-10-01
source own
Taiwanese bike manufacturer Merida Industry Co. Ltd. has further expanded its influence in Central and Eastern Europe (CEE) by acquiring an additional 39% stake in Merida & Centurion Germany GmbH for €17.3 million ($19.05 million). This acquisition brings Merida's total ownership of the German distributor to 90%, solidifying its presence in the European bike market. Merida & Centurion has long been the exclusive distributor of Merida-branded bikes in Germany, while also developing and distributing Centurion bikes, a brand with deep historical ties to the U.S. market.
Merida's purchase from founder Wolfgang Renner, a key figure in the German biking scene and a Mountain Bike Hall of Fame inductee, ensures the long-term sustainability and management of the distributor. Renner, who played a pivotal role in establishing Centurion in Europe since the 1970s, sold his shares as he approaches retirement.
This move is part of Merida's strategic investment in the European bike industry, where it aims to strengthen its presence in the CEE region. Merida’s success also extends globally, as the company holds majority shares in Japan's Miyata brand and a 35% stake in Specialized Bicycle Components.
Despite a dip in 2023 sales following a pandemic boom, Merida's mid-2024 performance has shown positive growth, with sales for June and July increasing significantly compared to 2023. This acquisition aligns with Merida's efforts to maintain strong partnerships and secure its foothold in the European market, particularly as demand for bikes continues to rise across Central Europe.
