BREMBRATE, Italy (BRAIN) — A private equity investment company announced it will acquire a majority stake in Vittoria. The transaction is expected to close early next year.
Telemos Capital, an investor in private European businesses, will join Vittoria's senior management team and Wise Equity as investors. Wise Equity purchased the Vittoria Group in 2020.
According to Telemos Capital, Vittoria has "grown substantially, led by group Chairman and CEO Stijn Vriends, who together with the current senior management team will significantly re-invest and is committed to continue to drive Vittoria's successful The Ride Ahead strategy."
Telemos said its backing will help Vittoria's plans for international expansion and develop its products, services, and sales channels. Telemos added Vittoria will continue to invest in sustainability, innovation, and research and development.
"In Vittoria, we are committed to make the most advanced bicycle tires on the planet, to deliver the best riding experiences to cyclists of all kinds," Vriends said. "The support of Wise Equity has been fantastic over the last years, and we are very pleased that Telemos — with all its relevant experience in growing global brands — is now joining us on the ride."
Vittoria Industries announced last month it will move its North American headquarters to Bentonville, Arkansas, and in June, tire insert supplier Deaneasy said it will integrate into the Vittoria Group and begin production to develop accessories quicker with research into sustainable materials and processes being a focus.
Other Telemos investments in the consumer sector include Lovehoney Group and Mammut Sports Group, a Swiss outdoor equipment and apparel brand.
