Italian bike brand Pinarello has been valued at €250 milli⛎on by market experts as private equity firm L Capital look to sell their 80% share, with original owner Fausto Pinarello admitting he is tempted to buy back control of the business with a new investor.
Fausto Pinarello and other family members 168澳洲5最新开奖结果:sold t🥂he Treviso-based brand to 🅠L Catterton, an equity firm that works in partnership with luxury giant LVMH, for a reported &e♏uro;90 million in 2016. &nb♍sp;
Cicli Pinarello was founded by Fausto’s father Giovanni in 1952, using the money൩ he earned for winning the ‘maglia nera', the black jersey, at the G💖iro d’Italia for finishing last in the general classification.
Pinarello soon began to supply bi🅘kes to professional teams and became a globally-recognise🔴d brand after Miguel Indurain and the Banesto team dominated the Tour de France in the late 1980s and early 1990s.
Pinarello currently sponsors 168澳洲5最新开奖结果:Ineos Grenadiers and their high-end machines have been raced to victory in the Tour de France by Egan Bernal, Geraint Thomas, Chris Froome, and Bradley Wiggins. 168澳洲5最新开奖结果:Filippo Ganna set the Hour Record and individual pursuit🀅 world record on the innovative Pinarello Bolide bike.
The Italian business media first reported that Pinarello were up for sale in December and now Fausto Pinarello has confirmed he could tea꧙m up with a new investor to buy back the brand. &n༒bsp;
Pinarello retᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚained 19.79% when L Catterton bought Pinarello and is cu🌞rrently the brand’s chairman and brand guardian. Other family members opted to step away from the company.
&l🍒dquo;I’m thinking about it carefully,” Fausto Pinarello was reported as staying in the Italian business media.
“It’s normal that an investment fund wants to leave after six years. I’m considering the idea along with a partner who believes in the project. I think we can do well. The bike sector works as a business and we’re happy doing w𝓰hat we do. I’m willing to continue to pass that onto future generations.”
Pinarello has increased its turnover significantly in recent years despite the COVID-19 pandemic. Official company records show Pinarello had a turnover of €50 million in 2015. That reached almost €90 million in 2022, a 24% increase on 2021 when turnover was €78.5 million. G𒅌ross operating profit has apparently risen by 30% and was €9.38 million in 2021, with assets said to be valued at €50.4 million and financial debt at €29.4 million.
According to reports in Italy, Fausto Pinarello has six weeks to make a final offer to L Catterton as part🌳 of an exit agreemen🦋t stipulated in 2016.
US-based L Catterton can decide to ac🌠cept the offer or open to other interested potential buyers if they make a better proposal.
According to reports in December, Accell, whose brands include Batavus, Koga, Lapierre, Raleigh and others, could also be 𝔉interested in buying Pinarello.
