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Bicycle makers Pinarello confirmed today that it has sold the majority stake in the company to the private equity firm partners of the luxury conglomerate LVMH Moët Hennessy - Louis Vuitton. The 168澳洲5最新开奖结果:move had been rumoured for months, and plans 168澳洲5最新开奖结果:confirmedꦰ by Pinarello soon after thꦕey were leaked to the media.

Current CEO Fausto Pinarello will maintain a 'significant' but minority stake in the company and remain in his posit♎ion😼.

With the new investment from the European and Nortꦗh American branches of L Catterton, Pinarello plans a global expansion into concept stores "in some of the most prestigious capital cities in the world".

"L Catterton's unparalleled experience in building leading bra✃nds and deep understanding of the global consumer market make them the ideal partner for Pinarello," Fausto Pi𝓀narello said in a press release.

More on this story:

• Louis Vuitton set to buy Pinarello
• Pinarello confirms plans to grow business in wake of Louis Vuitton 'leak'
• Team Sky and Pinarello extend partnership

"With even more passion than the one we have already dedicated so far, we will write a new page of the company﷽ story. It is still the story of our company which will continue to be led by the same team that made Pinarello the unique company it is now. With L Catterton's Pinarello will see new growth perspectives; we will not forget our roots and continue our path, creating innovative and high quality products."

Pinarello recently extended as equipment sponsor of Tour de France winner&nbs🌄p;Chris Froome's Team Sky for the next four years.