Responding to a story released yesterday by the Bike Europe website, Spanish company BH Bikes has issued a denial that it is up for sale and pledged to remain independent.
The Bike Europe website yesterday referred to a Reuters interview with Accell Group CEO René Takens, in which it said Takens was looking to take over companies in Italy and Spain and had up to 100 million euro to spend on such acquisitions. It added that Accell was interested in BH Bikes as one of the possibilities.
The bike company was quick to respond. “BH Group has no plans to sell BH Bikes or any other business to Accell Group or other corporations,” it said in a release issued to the press.
“As always, BH Bikes continues to focus independently on the development of its strategic plan and international growth. Our brand and models are a benchmark of state-of-the-art technology applied to the cycling experience.”
It also ruled out any reconsideration of this position in the future. “BH has been operating as an independent company for more than 100 years and intends to continue in the same way for another 100 years.”
The Basque company was founded in Eibar in 1909 when three brothers, Domingo, Juan and Cosme Beistegui, decided to change the family business from making guns to constructing bicycles. It has grown since then and boosted its profile when it backed professional teams, with its riders winning the Vuelta a España and taking the Alpe d’Huez stage win in the 1987 Tour de France.
More recently it has supplied bicycles to the Liberty Seguros, Astana and Ag2r La Mondiale teams, developing carbon frames weighing under 800 grams. It has manufacturing and assembly facilities in Vitoria and in Portugal, which also produce parts for BMW and Mercedes Benz.
The company manufactures 200,000 bicycles a year, with half of those going to other European countries.