The Bourrelier Group acquires MAVIC’s business

The Grenoble Commercial Court has approved the takeover of MAVIC by the French group Bourrelier, formerly owner of Bricorama.

Source: Press Release / Photo credits: Mavic – Bourrelier Groupe

The Bourrelier group has therefore been chosen to “restore MAVIC’s historical leadership in the cycling market“. The Grenoble Commercial Court has indeed ruled in favor of the family group Bourrelier (formerly owner of Bricorama), represented by its two general managers Yoann and Jean-Michel Bourrelier, to relaunch MAVIC, one of Europe’s leaders in the aluminum and carbon bicycle wheel segment. Among the 14 potential buyers, the court chose this solid and realistic project, financed by own funds, with the maintenance of the Saint-Triviers site, the retention of 105 employees, and a long-term vision for MAVIC to regain its technological leadership in bicycle rims, wheels, and hubs.

MAVIC, a century of history and technical leadership in bicycle wheels and rims. Recognized by cyclists for its innovations and premium technical products for over a century, MAVIC is a leader in the aluminum and carbon wheel and rim segment in Europe. The group, headquartered in Annecy, specializes in the design, production, and distribution of bicycle equipment and accessories. It has also been a partner of the Tour de France for over 40 years, where MAVIC’s “yellow cars” provide technical assistance to riders. MAVIC had requested the opening of receivership on May 2, 2020, in order to find a sustainable takeover solution.

Bourrelier Group has a long-term entrepreneurial vision. Bourrelier Group is a family business listed on the stock exchange (Euronext Growth) since 1996. The group’s founder, Jean-Claude Bourrelier, began his entrepreneurial adventure in 1975 to build, in forty years, a group of more than 4500 people, a leader in the DIY sector: Bricorama. In 2017, he sold his DIY activities in France and Spain and changed his name to Bourrelier Group SA.

Today, with a turnover of 223 million euros, the group continues to develop its DIY activities in Belgium and Holland under the GAMMA and KARWEI brands with more than 72 points of sale. “Strongly imbued with a strong entrepreneurial and family culture, Bourrelier Group is today looking for new industrial and commercial development projects. We want to invest in activities that make sense for the environment and society as a whole. The sports sector, and especially cycling, fully meets this philosophy,” explains Yoann Bourrelier, CEO of Bourrelier Group.

A passionate mountain biker and competitor, Yoann Bourrelier knows the cycling market well, having also been one of the pioneers in the exclusive distribution of Electric Assist Bicycles (EABs) in 2007 through specialized stores, after observing and studying the evolution of urban mobility and its growing success.

A strategic project to regain technological leadership. “The objective is clear: to enable MAVIC to return to growth and performance. MAVIC must regain the dimension of a family SME with agile governance and short, autonomous decision-making circuits that it has lacked in recent years, and with a refocus on what made the brand successful,” adds Jean-Michel Bourrelier, CEO of Bourrelier Group.

The pillars on which the project is based are, in summary, the following:
– a refocus on aluminum and carbon rims, hubs, and wheels, which have made MAVIC’s success and reputation among customers seeking performance. Softgoods products (clothing, shoes, helmets) will be subject to an in-depth analysis to simplify the range.
– Research & Development and innovation efforts.
– a repositioning and commercial reconquest through the rationalization of product ranges with impeccable customer service.
– modernization of the production tool.
– a proactive marketing & communication policy, centered around key events.
– the mobilization of MAVIC teams around a long-term vision, supported by a family shareholder.
– new agile governance, with short decision-making circuits, around a presidency composed of Yoann and Jean-Michel Bourrelier, and accompanied by a general manager with strong industrial expertise.
– a return to MAVIC’s autonomy organized in consultation with its former owner Amer Sports (Salomon group)

“With the takeover of MAVIC, Bourrelier Group is committed for the long term to redeploying an internationally renowned French industrial company around a new project that will rely on the know-how and vital forces of the company. We also wish to thank all MAVIC employees and CSE members represented by Gérard Meunier, as well as Didier Poulmaire and Bernard Hinault and all those who, through their mobilization, generated enthusiasm around this takeover project. We are happy and proud to continue the MAVIC adventure with the ambition of writing a new page in its history.”