Canyon Bicycles gets strategic partners

Basketball star LeBron James' investment company, among others, becomes an investor. Robert Kyncl becomes a new member of the Management Board.

LeBron James and Maverick Carter's investment company, LRMR Ventures, and SC Holdings, a US private equity firm specializing in iconic branded companies, have announced a strategic equity investment in Canyon Bicycles GmbH ("Canyon"), the world's leading manufacturer of premium direct-to-consumer bicycles based in Koblenz, Germany.

The new investors will join the company's current shareholders, which include majority shareholder Groupe Bruxelles Lambert (GBL) and company founder Roman Arnold. Among other things, the aim is to promote Canyon's ambitious growth targets in the USA. "As an avid cyclist and brand developer, I am very excited to partner with Canyon," says Maverick Carter. "The quality of the products, the strength of the Canyon brand and the unique distribution model create a number of exciting opportunities that we want to be a part of developing. "According to the Financial Times, Canyon generated sales of 475 million euros last year. Since 2016, revenue has grown by an average of 21 percent per year.