Home News World Mavic Secures a New Owner

Mavic Secures a New Owner

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Having gone into receivership in May and gone through the courts to find new backers, no less than 15 different parties expressed interest in purchasing this iconic French company. On On 22nd July the new owner was announced by the court. Mavic is now owned by the Bourrelier Group, a French investment firm.

According to local press the Grenoble commercial court has now settled on Bourrelier’s plan of action, which secures a total of 105 jobs in the firm’s Annecy R&D plant, as well as within a Saint-Triviers production house.

The pledge to rescue these jobs does unfortunately come short, as expected, of securing jobs for the entire workforce; just over half of the existing workforce are expected to face redundancy.

The Bourrelier Group said in a press statement, “The objective is clear: to allow Mavic to return to growth and performance. Mavic must rediscover the dimension of a family SME with agile governance and short and autonomous decision-making circuits that it has lacked in recent years, and with a refocus on what has made the success of the brand.”

The group’s statement spoke of a refocusing effort to return the brand to the rim, hub and wheel product for which it is known, both in carbon and aluminium iterations. It does not indicate whether this means a slimming of the catalogue away from areas such as clothing and accessories, among other extensions of the Mavic brand.

“With the takeover of Mavic, Bourrelier Group is committed in the long term to redeploying a French industrial company of international renown around a new project which will draw on the know-how and the strengths of the company,” wrote the group.

This article was first published in Cycling Industry News (UK).

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