PRZASNYSZ, Poland (BRAIN) —Kross S.A., the largest Polish bike manufacturer, has purchased Multicycle, a Dutch e-bike brand that declared bankruptcy last year.
Kross said Multicycle's production will resume in the Netherlands. Multicycle makes urban and trekking bikes in addition to e-bikes.
"Production and continued sales of the brands popular bicycles is expected to recommence in the upcoming weeks," the company said. "Some of the company's employees have already begun work. Even though the new legal entity is not assuming the undertakings of the predecessor, the new owner of Multicycle is planning to activate dealer services, which will be available for new and existing customers."
Kross said the purchase gives it "a strong entrance into an attractive market of urban bicycles. This new synergy of sales and distribution network as well as technological know-how and industry experience has great potential."
Kross produces 300,000 bikes a year and exports to more than 40 countries. It sponsors a well-known mountain bike race team that includes Polish racer Maja Włoszczowska and Switzerland's Jolanda Neff, the current world champion.
