Dorel purchases Cannondale
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From Times Wire Services
Dorel Industries Inc., the maker of mass-market Schwinn and Mongoose bikes, said it acquired Cannondale Bicycle Corp. and Sugoi Performance Apparel for as much as $200 million cash to get a bigger share of the premium-bike market. Dorel shares rose 4.4%.
The acquisition, from an affiliate of closely held Pegasus Capital Advisors, is being financed through debt, the Montreal-based company said.
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