Tuesday, February 12, 2008
Canadian Company Dorel Buys Cannondale in $200-million deal
On February 5, 2008, Dorel, a Canadian consumer-products company, bought American high-end bike manufacturer Cannondale. Dorel CEO said the deal would add significantly to the bottom line while encouraging healthy lifestyles and helping the environment. Dorel already sells Schwinn and GT bikes through retailers such as Canadian Tire, but this move would enable the company to move into a higher-end market segment.