US EditionCanyon sales inch up in 2024, GBL depreciates value of investment
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The private equity investor GBL has written off a three-digit million on Canyon. The losses of the bicycle manufacturer had increased in 2024. What's going on?
Canyon sales inch up in 2024, GBL depreciates value of investment
KOBLENZ, Germany (BRAIN) — Canyon Bicycles’ sales grew by 1 million euros last year, from 791 million euros in 2023, to 792 million euros ($900 million at today’s exchange rate) in 2024, according to an annual report from Groupe Bruxelles Lambert, which bought a roughly 50% share in the company in 2020. GBL reduced the value of the Canyon shares it owns from 460 million euros at the end of 2023 to 261 million at the end of 2024. “Canyon had to n…
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