Cannongoose?
It was announced Monday that the firm based in Quebec that owns GT, Schwinn, and Mongoose has added Cannondale to its list of brands. They purchased Cannondale for close to $200 million. The Dorel company plans to position GT and Cannondale under one branch to position them as the top tier bicycle brands under their control. This group will be called the Cannondale Sports Group.
There has been alot of resistance to this type of consolidation within the bicycle industry. Independent bicycle dealers are always scared that the brands that they sell and rely on to make a living will end up in Wal-Mart. Dorel seems to know what they are doing by creating different tiers of brands that appeal to different segments of the cycling industry. This is a step forward for cycling. Now let’s just hope that the innovation that Cannondale is known for continues long into the future.
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