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» CEO of eMAG takes over Romanian Bike manufacturer Pegas
2021-02-23
source own
CEO of eMAG takes over Romanian Bike manufacturer Pegas
2021-02-23
source own
The 5 shareholders of leading Romanian bicycle manufacturer Pegas have agree to sell the company to Network One Distribution (NOD), a company 100% owned by Iulian Stanciu, the CEO of the biggest local online retailer in Romania - eMAG.ro.The Pegas bicke brand was founded in the early '70s, being produced at the weaponry factory in Zarnesti - "March 6", renamed Tohan Zarnesti.At its height the factory manufactued 30,000 bicycles a month. Andrei Botescu revived the brand by launching Atelierele Pegas in 2011.In 2019, Atelierele Pegas had a turnover of RON 10.7 mln (over EUR 2 mln), down from RON 12.64 mln in 2018, while its loss rose by RON 7 mln to RON 16.1 mln. The company's debt increased from RON 19.7 mln to RON 23.1 mln, while receivables decreased to RON 2.7 mln, from RON 3.8 mln in 2018.
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