Business
Dorel purchases assets of Australian bicycle distributor and creates Cycling Sports Group Australia
New entity will focus strictly on Independent Bike Dealer channel EXCHANGES TSX: DII.B, DII.A
About this update from Dorel Industries Inc. Class A
[{"type":"text","content":"\n\n\n\nNew entity will focus strictly on Independent Bike Dealer channel\n\nEXCHANGES\nTSX: DII.B, DII.A\n\n\nMONTREAL, Aug. 4 /CNW Telbec/ - Dorel Industries Inc. (TSX: DII.B,\nDII.A), today announced it has acquired the assets of Sydney, Australia-based\nGemini Bicycles for US$2.2 million and is creating a new subsidiary to be\nknown as Cycling Sports Group (CSG) Australia. The new division will unite\nDorel's key Recreational/Leisure brands; Schwinn, Mongoose, Cannondale, GT and\nSUGOI under one roof and will be dedicated to the Independent Bike Dealer\n(IBD) channel.\n\n\nCSG Australia, located in Sydney, will coordinate all sales, marketing,\ndistribution and customer service to better support its growing network of\ndealers in Australia. CSG Australia will evolve in phases; beginning\nimmediately, the new company will distribute Schwinn and Mongoose, followed by\nCannondale on January 1, 2010 and GT on August 1, 2010.\n\n\n"The creation of CSG Australia is in line with our strategy to accelerate\nour growth agenda globally and to make our operations there more efficient.\nThis new organization will be charged with driving growth within our critical\nIBD channel by leveraging our excellent portfolio of recognized brands with\nleading consumer innovations," stated Robert Baird, president of Dorel's\nRecreational/Leisure segment.\n\n\nNoel McFarlane, former owner of Gemini has been named Managing Director\nof CSG Australia. McFarlane has owned and operated Gemini Bicycles, the\ndistributor of Mongoose in Australia, for the past 16 years and brings his\nextreme passion and experience to Dorel.\n\n\nProfile\n\n\nDorel Industries Inc. (TSX: DII.B, DII.A) is a world class juvenile\nproducts and bicycle company. Established in 1962, Dorel creates style and\nexcitement in equal measure to safety, quality and value. The Company's\nlifestyle leadership position is pronounced in both its Juvenile and Bicycle\ncategories with an array of trend-setting products. Dorel's powerfully branded\nproducts include Safety 1st, Quinny, Cosco, Maxi-Cosi and Bebe Confort in\nJuvenile, as well as Cannondale, Schwinn, GT, Mongoose and SUGOI in\nRecreational/Leisure. Dorel's Home Furnishings segment markets a wide\nassortment of furniture products, both domestically produced and imported.\nDorel is a US$2.2 billion company with 4700 employe...