Canyon Bicycles Acquisition, Valuation, Funding & Investors
Canyon Bicycles was acquired by Groupe Bruxelles Lambert for $864M in December 2020, a 2.0x multiple on $432M of revenue.
Canyon Bicycles revenue at acquisition
$432M
Last twelve months · Dec 2020
Canyon Bicycles revenue multiple at acquisition
2.0x
EV/Revenue · Dec 2020
Cumulative funding Canyon Bicycles raised
$30M
across 1 funding round
About Canyon Bicycles
Canyon Bicycles is a Koblenz-headquartered direct-to-consumer manufacturer of premium road, mountain, and gravel bikes sold worldwide. The German company produces frames from carbon fiber and aluminum, offering models like Ultimate CFR for racing and Spectral for enduro. Canyon ships from warehouses in the United States, United Kingdom, and Australia, with components from Shimano and SRAM.
Founded
2002
HQ
KoblenzWebsite
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Revenue
$849M (Jul 2022)
Valuation
$862M (Jul 2022)
Canyon Bicycles Acquisition
Canyon Bicycles was acquired by Groupe Bruxelles Lambert for $864M on 15 December 2020.
The acquisition price implies a 2.0x revenue multiple on $432M of revenue.
Before the acquisition Canyon Bicycles had raised $30M across 1 funding round.
Canyon Bicycles GmbH is a German direct-to-consumer (DTC) designer and manufacturer of premium bicycles, both conventional and electric models, operating as the world's largest DTC bicycle operator selling primarily through its own e-commerce website. In December 2020, Groupe Bruxelles Lambert (GBL), a major European investment holding company and significant shareholder in Adidas and Pernod Ricard, signed a definitive agreement to acquire a majority stake of approximately 50% in Canyon for €400 million. As part of the transaction, private equity firm TSG Consumer Partners fully exited its position, while founder Roman Arnold retained a significant shareholding and reinvested a portion of his proceeds alongside GBL, transitioning to serve as Chairman of the Advisory Board. At the time of the transaction signing, Canyon had achieved over €400 million in annual sales and demonstrated strong growth momentum, with average annual revenue growth of approximately 25% over the prior seven years, positioning the company at the intersection of multiple structural trends aligned with GBL's strategic priorities including sustainable mobility and e-commerce distribution.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 15 Dec 2020 | PE buyout | $864M | 2.0x |
Canyon Bicycles Valuation
Canyon Bicycles is currently valued at $862M, based on its undisclosed-stage round in July 2022.
The $30M round was led by LRMR Ventures, with participation from SC.Holdings and Shane Neman.
Canyon Bicycles valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2022 | Undisclosed stage | $862M | 1.0x |
Canyon Bicycles Revenue
Canyon Bicycles' latest recorded revenue is $849M, as of its undisclosed-stage round in July 2022. At a $862M valuation, that implies a 1.0x revenue multiple.
Canyon Bicycles revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2022 | $849M | $862M | 1.0x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Canyon Bicycles Funding History
Canyon Bicycles has raised a total of $30M across 1 funding round.
Canyon Bicycles funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2022 | Undisclosed stage | LRMR Ventures (lead); SC.Holdings; Shane Neman | $30M | $862M | Canyon Bicycles GmbH, based in Koblenz, Germany, is the world’s leading direct-to-consumer manufacturer of premium bicycles, specializing in road, gravel, mountain, urban, and e-bikes. The company pioneered direct e-commerce in cycling over 20 years ago, sells most bikes outside Germany since 2008, and integrates cutting-edge performance technologies from pros like Mathieu van der Poel into consumer products. It focuses on innovation, health, wellness, sustainable mobility, and online distribution while expanding e-bikes, urban bikes, and connectivity. On July 29, 2022, Canyon secured a €30 million ($30.9M) strategic equity investment led by LRMR Ventures (LeBron James and Maverick Carter’s family office) and SC Holdings (US private equity firm), valuing the company at €750 million ($774M). Investors, avid cyclists, aim to boost US market presence, e-bike engagement, global brand awareness, and online shopping efficiency. Robert Kyncl (YouTube Chief Business Officer) joined the board to strengthen digital capabilities. Canyon, a Groupe Bruxelles Lambert (GBL) portfolio company with GBL's listed investments at EUR 21.3 billion end-March 2022, was not actively seeking capital but valued the partners' alignment. The funding supports ambitious US expansion amid surging bike imports (4.7M units Q1 2020 excluding e-bikes) and a booming e-bike market ($27.2B in 2021, projected $54.4B by 2027). LRMR and SC will aid grassroots athlete support and new riding communities. Baird advised Canyon. |
Who has invested in Canyon Bicycles?
3 investors have backed Canyon Bicycles across its funding rounds, including Shane Neman, SC.Holdings and LRMR Ventures.
Lead investors include LRMR Ventures.
Canyon Bicycles Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Akron, OH | 1 | Lead | Jul 2022 | |
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Start Free TrialCanyon Bicycles Competitors
Canyon Bicycles competitors include listed companies like Brainbees Solutions, Boozt, CEWE Group and Apotea, and private ones like Go Colors and ipsy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 India | Publicly listed | $866M | $29M | $856M | 1.0x | |
 Sweden | Publicly listed | $845M | $71M | $854M | 1.0x | |
| Chennai | Private | $82M | $26M | $871M | 10.6x | |
| Germany | Publicly listed | $1B | $160M | $835M | 0.9x | |
| Sweden | Publicly listed | $735M | $47M | $809M | 1.0x | |
| San Francisco, CA | Private | $150M | - | $800M | 5.3x |
Canyon Bicycles Public Comps
Canyon Bicycles is no longer listed, but its public comps include Brainbees Solutions, Boozt, Bxn Holding, CEWE Group, Genda, Apotea, QVC Group, Harvia, Hepsiburada and Winnebago Industries.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $866M | $29M | 1.1x | 1.0x | 31.8x | 23.1x | |||
| $845M | $71M | 1.1x | 1.0x | 13.0x | 10.3x | |||
| $771M | $100M | 0.8x | 0.8x | 6.4x | 6.0x | |||
| $1B | $160M | 0.8x | 0.9x | 5.3x | 5.3x | |||
| $1.1B | $133M | 1.2x | 1.0x | 9.6x | 7.2x | |||
| $735M | $47M | 1.1x | 1.0x | 17.6x | 14.3x | |||
| $11B | $1.9B | 0.5x | - | 2.8x | - | |||
| $229M | $50M | 4.4x | 3.9x | 20.2x | 16.5x | |||
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Common questions about Canyon Bicycles
| When was Canyon Bicycles founded? | Canyon Bicycles was founded in 2002. |
| Where is Canyon Bicycles headquartered? | Canyon Bicycles is headquartered in Koblenz, Germany. |
| Is Canyon Bicycles publicly listed? | No, Canyon Bicycles was acquired by Groupe Bruxelles Lambert in December 2020. |
| Who acquired Canyon Bicycles? | Canyon Bicycles was acquired by Groupe Bruxelles Lambert in December 2020. |
| How much was Canyon Bicycles acquired for? | Canyon Bicycles was acquired for $864M in December 2020, a 2.0x revenue multiple. |
| What is Canyon Bicycles' valuation? | Canyon Bicycles was last valued at $862M in its undisclosed-stage round in July 2022. |
| How much funding has Canyon Bicycles raised? | Canyon Bicycles has raised $30M across 1 funding round. |
| What was Canyon Bicycles' last funding round? | Canyon Bicycles' last funding round was a $30M undisclosed-stage round in July 2022, led by LRMR Ventures. |
| Who are Canyon Bicycles' investors? | Canyon Bicycles' investors include LRMR Ventures, SC.Holdings and Shane Neman. |
| What is Canyon Bicycles' revenue? | Canyon Bicycles' latest recorded revenue is $849M (July 2022). |
| What is Canyon Bicycles' revenue multiple? | Canyon Bicycles' latest valuation implies a 1.0x revenue multiple ($862M valuation on $849M of revenue). |
| Which companies are comparable to Canyon Bicycles? | Companies comparable to Canyon Bicycles include Brainbees Solutions, Boozt, Go Colors, CEWE Group, Apotea and ipsy. |
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