Accell Group sells Canadian bicycle brand registrations to Canadian tire corporation
(WorldNews Netherlands)

PRESS RELEASE ACCELL GROUP SELLS CANADIAN BICYCLE BRAND REGISTRATIONS TO CANADIAN TIRE CORPORATION PARTIES TO EXPLORE FURTHER COLLABORATION WITHIN THE BIKE INDUSTRY HEERENVEEN (THE NETHERLANDS), 12 July 2019 - As part of its strategic review of the North American business operations which was announced in December 2018, Accell Group N.V. ("Accell Group") reached agreement on the sale of its Canadian brand registrations of Raleigh, Diamondback, Redline and IZIP ("the transaction") to Canadian Tire Corporation, Limited ("CTC") for a cash consideration of USD $16 million. CTC is one of...