German bicycle maker Canyon up for sale to benefit from COVID boom -sources

Giant Manufacturing Co

21/10/2020 12:23

By Arno Schuetze
    FRANKFURT, Oct 21 (Reuters) - German bicycle maker Canyon
has been put up for sale as its owners seek to benefit from a
boom triggered by the coronavirus pandemic as demand surged for
recreational purposes during the lockdown and as an alternative
to using public transport, people close to the matter said. 
    Investment banking boutique Baird last week sent out
information packages to prospective private equity bidders such
as KKR, Ardian, Partners, Permira and General Atlantic, the
people said.

 (Reporting by Arno Schuetze; Editing by Tom Sims)
 ((arno.schuetze@thomsonreuters.com; +49 30220133648;))