December 29/11 9:47 am - Cervelo Updates Possible Sale Info - Will Stay in Toronto

Posted by Editor on 12/29/11
 

On December 23rd, Canadian-based bicycle manufacturer Cervélo made a brief announcement on their website that they were going to receive financing from Dutch-based PON Holdings BV, and that the company could be sold (see Daily News - Cervelo For Sale?). This ignited a storm of speculation as to the future of the company. Cervélo has now responded, clarifying the situation:

Thanks to everybody who commented on our message that we're contemplating a sale of the company. To answer some of your questions, here is a bit of background. Cervélo has experienced exceptional growth and success since we started 16 years ago. A potential sale of the company allows us to continue to grow Cervélo without changing any of the things that make it special.

Cervélo will continue to be based in Toronto, with the same team of people, with the same desire to engineer the best bikes on the planet. It will stand by old products and create exciting new ones, starting with the new P5 which will be launched next month. Stay tuned.