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The Rossignol Group and WhaTTfornow have reached an agreement for the acquisition of the industrial and commercial activities of the high-end pedal and bicycle brand Time, which will be effective this summer. The French start-up, committed to innovation in e-bikes, aims to create a Group of French Bicycle Brands in the Auvergne-Rhône-Alpes region. The Rossignol Group, for its part, is refocusing its bicycle activity on the Felt and Rossignol brands.
Source: Press Release / Photo credits: Rossignol – Time – Nicolas Joly
The Rossignol Group and WhaTTfornow have reached an agreement for the acquisition of Time. The transaction covers all of the brand’s activities, including the production of carbon frames and forks, carried out at the Carboprax factory in Gajary, Slovakia, as well as the design and marketing of pedals manufactured at the Rossignol factory in Nevers. It is subject to the successful implementation of the related financing and is expected to be finalized this summer. Despite significant investments dedicated to Time since its acquisition in 2016, the brand has not managed to reach the critical size allowing it to be sustainably integrated into the Rossignol Group’s scope.
Rossignol has notably modernized the production of pedals at its Nevers site and the RTM carbon technology, unique in the cycling world, at the Slovak Carboprax factory. Time now has an efficient industrial organization. Beyond the financial and social guarantees provided by the buyer, the Rossignol Group was attracted by the desire of WhaTTfornow, and its founder François Guers, to perpetuate and develop the Time brand. A highly innovative start-up in next-generation e-bikes, WhaTTfornow is making this acquisition to develop an Industrial Group of French bicycle brands. It is more broadly part of the Auvergne-Rhône-Alpes Region’s desire to consolidate and develop a “Future Bike” sector, which the Rossignol Group will support through its cycling activities.
With this divestment, the Rossignol Group is refocusing its bicycle activities on the Felt brand for road and triathlon bikes, and Rossignol for mountain bikes and electric mountain bikes. The Group will continue to produce pedals for WhaTTfornow at its Nevers site.
François Guers commented on this agreement as follows: “By taking on the challenge of relaunching Time, an iconic French and highly innovative brand in sports cycling, WhaTTfornow completes its offer of electric-boosted bikes aimed at young people and athletes, like Alexis Pinturault, ambassador for these two brands. By reconnecting with specialized bicycle stores, especially those who remained loyal despite a more difficult period, Time will truly be able to grow thanks to new innovative products.”
Bruno Cercley, President & CEO of Rossignol, declared: “I am delighted with this agreement, which promises an interesting and sustainable development for Time, in a new environment that shares Rossignol’s passion for innovation. We will be happy to follow this new adventure by participating, through our Felt and Rossignol bicycle activities, in the development of the “Future Bike” sector with the region. Cycling remains a strong strategic focus for the Group, and we will concentrate our efforts on mountain bikes and electric mountain bikes with Rossignol and on road bikes with Felt. The global enthusiasm for cycling, especially in the mountains, reinforces this approach.”
François Guers, President of WhaTTfornow, emphasized “the very professional and constructive work that has been done with Jean Laurent Nectoux’s teams, COO of Rossignol, to bring this transaction to fruition.The entire WhaTTfornow team is looking forward to working soon with Time employees who will be relocating to Rumilly, near Annecy. A new chapter is opening for the twenty or so people (WhaTTfornow and Time) that this new establishment will comprise from September, in the former Salomon ski factory offered by the General Council of Haute Savoie as a base camp for this new adventure.”
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