Posted AT 4:21 PM EST on 04/02/08
Dorel rolls in with a deal for Cannondale
Dorel Industries Inc. is buying premium U.S. bicycle maker Cannondale Bicycle Corp. for between $190-million (U.S.) and $200-million, expanding its tracks into the high-performance cycling market.
The acquisition will make Dorel the third-biggest player in the North American independent bicycle industry, behind Trek and Specialized, said Dorel chief financial officer Jeffrey Schwartz.
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