Cannondale Bought by Pacific’s Owners
TORONTO, Feb 4 (Reuters) – Dorel Industries Ltd raced into the high-end bike market on Monday with the purchase of Cannondale Bicycle Corp in an all-cash deal worth $190 million to $200 million.
Dorel, which also makes furniture and children’s products, already manufactures bicycles through its Pacific Cycle division, with brands including Schwinn and GT. It said the acquisition is being financed through debt.
