Cannondale is one of the most reputable bike brands in the entire world and is highly praised for its iconic designs, but who owns Cannondale Bikes?
When Cannondale first started manufacturing bikes, they were a very small company that ended up taking the cycling industry by storm. However, over the years, we have seen Cannondale’s ownership change a number of times due to corporate acquisitions, which leaves many people wondering who currently owns the company.
Cannondale Bikes is currently owned by a Dutch transport conglomerate called Pon Holdings. In January 2022, Pons Holdings purchased Dorel Sports, which is a subdivision of Dorel Industries (Cannondale’s previous owner). The CEO of Pon Holdings is Janus Smalbraak.
Over the last 50 years, we have seen some incredible innovations in the cycling industry. The introduction of new-age parts and materials has revolutionized the design and manufacturing process of bicycles, which has resulted in a lot of competition. A name that stands out in this regard is Cannondale. For decades, Cannondale has proved itself as being one of the best bike brands in the world by releasing high-performance machines that have elevated the sport of cycling to a new level. Although Cannondale has hit some rough patches with corporate mergers and acquisitions, the company’s attention to detail and high-quality standards have not been compromised. With that being said, few bike brands have had as many changes in ownership as much as Cannondale. To help you understand this further, we are going to take a closer look at who owns Cannondale bikes in more detail.
After researching Cannondale’s corporate acquisitions, I have been able to determine who owns the company. My research indicates that Cannondale has been bought and sold extensively over the last 20 years - with its most recent acquisition in 2022, which is why the current owner of the brand often comes into question.
History of Cannondale Bikes
Cannondale was founded in Wilton, Connecticut in 1971 by Joe Montgomery. Although Cannondale would eventually become a leading bike brand, the company’s first contributions to the cycling world were accessories and trailers. The brand would go on to collaborate with various designers over the years, which is when they began producing high-end bikes in the 80s - earning them recognition and praise on an international level.
Cannondale continued along this path throughout the 80s and into the 90s - with top-of-the-line bike designs that were simply revolutionary for the era. The name Cannondale quickly became equated with quality in the cycling world. The primary focus of the brand has always been road bikes, which is what they have specialized in since the very beginning. However, they would eventually branch out and start designing world-class mountain bikes and E-Bikes.
Things took a turn for Cannondale in the late-90s when the company changed course and began manufacturing motorsports - specifically ATVs and off-road motorcycles. Cannondale struggled to keep up with the production of its new goals as a company, as demand was coming in for their new line of products but they could not keep up with the costs of their output. Cannondale tried to keep up with its new vision but they ended up losing money on each ATV and motorcycle that they made.
The company had to file for bankruptcy in 2003 as a result of this, which is when Cannondale was auctioned off to Pegasus Cycle. The new owners ended the motorsport production that Cannondale was pursuing and put the focus of the brand back on bicycles. After Pegasus Cycle bought Cannondale, the ownership of the company would change numerous times over the course of nearly 20 years.
Cannondale Bikes Origins
The company’s name ‘Cannondale’ was invented in the Metro-North train station in Wilton, Connecticut. The station had an old cannon lying inside which had the name ‘Dale’ inscribed on its side - making this the origin of the iconic brand’s name. Cannondale started out small in the United States but it would eventually become a multi-national company with operations happening in Canada, Germany, Taiwan, and China.
After transitioning from bike bags and trailers, Cannondale started making sophisticated bike designs using advanced materials and engineering. The most notable Cannondale bikes are part of their CAAD series. The CAAD series features bike frames that were made with computer-aided design. This was considered to be groundbreaking at the time and it resulted in some of the lightest bikes ever created with a frame that weighed only 2.8 lbs.
This leap in cycling technology was pioneered by Cannondale in the early 90s. However, the CAAD series is still the pride and joy of Cannondale to this day, which is why they still design and produce bikes with the CAAD label.
When was Cannondale Bought Out?
Cannondale has been bought and sold multiple times over the past 20 years. When the company went bankrupt back in 2003, it was bought out by Pegasus Cycle who would go on to own Cannondale for the next 5 years.
In 2008, Cannondale was bought out by Dorel Sports - a subdivision of Dorel Industries. The Canadian company bought Cannondale for roughly $200 million. Dorel Industries would continue to own Cannondale for the next 13 years until January 2022 when it was sold to Pon Holdings.
Who Bought Cannondale Bikes?
Pon Holdings is a Dutch company and the current owner of Cannondale Bikes. In January of 2022, Dorel Industries sold off Dorel Sports to Pon Holdings for $810 million. The current CEO of Pon Holdings is Janus Smalbraak.
Can You Buy Stock in Cannondale Bicycle Corporation?
Yes, you can buy stock in Cannondale Bicycle Corporation. Cannondale went public back in 1995 when the company was initially valued at $22 million.
What is Dorel Industries?
Dorel Industries is a Canadian corporation that deals in the manufacturing of sporting, furnishing, and juvenile equipment. The company sells its products in over 100 different countries around the globe and they currently employ roughly 10,000 people.
Dorel Industries was created during the corporate merger of 2 major Canadian companies - Dorel Co. and Ridgewood Industries. The corporation has been in operation since 1962 and its current annual revenue is just over $2 billion.
Dorel Industries had a division called Dorel Sports, which acquired Cannondale in 2008 and held the brand for about 13 years.
Other Brands Owned by Dorel Industries
In addition to Cannondale, Dorel Industries owned various major bike brands under their sports division. This included bike companies such as Schwinn, GT, KidTrax, Caloi, Mongoose, and Charge.
However, all of these bike brands were sold off to Pon Holdings as part of a corporate acquisition.
Where are Cannondale Bikes Made?
When Cannondale bikes were first released, they were being made in the United States, which is where the headquarters of the company remains to this day.
However, after the various ownership changes that Cannondale went through, the manufacturing of the bikes moved around the globe. Cannondale's bikes are designed in Germany and are primarily mass-produced in Taiwan.
How Much is the Cannondale Bicycle Corporation Worth?
The price of the corporation has changed quite a bit over the years - with its value constantly increasing. The company was initially bought by Pegasus Cycle for $58 million and then sold to Doris Industries for $200 million.
With that being said, Cannondale Bicycle Corporation was most recently sold off as part of a major corporate acquisition by Pon Holdings for $810 million. This price included the purchase of several big-name bike brands including Cannondale.
Where to Buy Cannondale Bikes
Cannondale bikes are still widely popular and can be purchased at various locations in the United States and around the globe.
If you would like to buy a Cannondale bike in person, you can likely find options at your local bike shop. You may need to go to a high-end bike shop that carries premium quality bicycles to find a Cannondale. However, the best way to determine where Cannondale bikes are sold is to go to their official website.
Although Cannondale does not sell bikes directly from their website, they do have their entire line-up listed with official prices. You can then select the bike that you want and then get connected to a bike shop through the Cannondale website. Simply click on the option to ‘find a bike shop’ and you will be given a list of options in your area.
On the other hand, if you prefer to shop online, there are a lot of great options to consider. Online bike shops carry a huge variety of different bicycles from Cannondale and you can do all of your shopping with a few simple clicks. However, you should note that most online stores may have prices that differ from Cannondale’s official listings, which is why you should always double-check the asking price. Here are some great options for buying Cannondale bikes online.
These online bike shops carry tier-1 bicycles from Cannondale and they have a very expansive selection to offer. With that being said, not every online store has the bulk of what Cannondale offers on its official website. So, be sure to keep your options open and make comparisons to Cannondale’s site as you shop.
About THE AUTHOR
Mountain biking is more than just a hobby for me - it's a way of life. I love the challenge and excitement that comes with it, and I'm always pushing myself to go faster and ride harder. Some people might think that mountain biking is dangerous, but I see it as the only way to live.Read More About Danny Lawson