Originally published on Cyclingnews
Bicycle makers Pinarello confirmed today that it has sold the majority stake in the company to the private equity firm partners of the luxury conglomerate LVMH Moët Hennessy – Louis Vuitton. The move had been rumoured for months, and plans were confirmed by Pinarello soon after they were leaked to the media.
Current CEO Fausto Pinarello will maintain a 'significant' but minority stake in the company and remain in his position.
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Global expansion
With the new investment from the European and North American branches of L Catterton, Pinarello plans a global expansion into concept stores "in some of the most prestigious capital cities in the world".
"L Catterton's unparalleled experience in building leading brands and deep understanding of the global consumer market make them the ideal partner for Pinarello," Fausto Pinarello said in a press release.
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