🠈  Pon Holdings  🠊

Pon Holdings

Pon Holdings is a dutch based firm that operates a variety of automotive based concern and that has acquired numerous brands in the cycling world.

The company was established in 1980 by Ben Pon, jr. The family was involved in the auto industry and racing for many years before; so I will start the story with the grand father.

Corporate History

• 1895 Mijndert Pon operated a vehicle repairshop.
• 1898: Mijndert Pon founded a shop that sold sewing machines and household articles. The shop later added Opel bikes and motorcycles. It then began importing Ford Automobiles and Continental Tires.
• 1935: Bernardus Marinus Pon (1904-1968) and his brother took over the firm which they rebranded as Pon's Automobielhandel. They began selling Volkswagon cars including the Beetle brand.
• 1947: Ben Pon created a sketch for the VW Type 2 Transporter also known as the "VW Bus".
• 1948: Pon began selling Porsches.
• 1949: Pon, and other dealers, began importing Volkswagon Beetles to the United States.
• 1962: Bernardus Marinus Pon, jr (1936 – 2019) became a Formula One racer in the Dutch Grand Prix.
• 1971: Pon created Pon Dealer as a separate company from the export company.
• 1972: Ben Pon, jr competed in Skeet Shooting in the Summer Olympics.
• 1980: Ben Pon, jr created Pon Holding.
• 1986: Pon participated in Volkswagon's acquisition of the Spanish automotive company Sociedad Española de Automóviles de Turismo.
• 1950: The state owned Instituto Nacional de Industria created SEAT which became Spain's largest auto company.
• 1988: Pon acquired Transmark Groep, Motrac.
• 1992: Pon participated in Volkswagon's acquisition of Czech based Škoda Auto

  History of Škoda

  • 1859: Count Wallenstein-Vartenberk created a foundry and engineering works that forged industrial and military equipment.
  • 1869: Emil Škoda (1839 – 1900) acquired firm and expanded it into the largest manufacturer in the Austria-Hungary empire creating locomotives, aircraft, ships, machine tools, steam turbines and equipment for power utilities.
  • 1917: During and after WWII, Škoda focused primarily on military equipment.
  • 1924: Škoda Works acquired the Laurin-Klement to form Škoda Auto.
  • 1945: Czechoslovakia nationalized Škoda which it rebranded as Závody Vladimíra Iljiče Lenina after Vladimir Lenin.
  • 1965: Company changed its name back to Škoda.
  • 1989: After the fall of Communism, the management began stripping the assets of the firm.
  • 1991: The Czech government sought a foreign partner and Volkswagon acquired a 30% stake in firm.
  • 1999: Volkswagon acquired a 100% stake in firm.
• 1995: Pon, in partnership with Macintosh Retail Group founded BelCompany.
• 1998: Pon founded Pon North America.
• 2003: Pon acquired Geveke N.V. to create Pon Equipment & Power Systems.
• 2005: Pon founded Pon Logistic Solutions based in Shanghai, China.
• 2011: Pon acquired Royal Dutch Gazelle which manufactured bikes.

  History of Royal Dutch Gazelle

  Gazelle is the largest bike manufacturer in the Netherlands producing 300,000 bikes a year.

  • 1892: Willem Kölling and Rudolf Arentsen began importing bikes from England.
  • 1902: Company began producing bikes with the Gazelle brand.
  • 1930: Gazelle introduced a collapsable bike.
  • 1935: Gazelle introduced a tandem bicycle.
  • 1937: Gazelle introduced an electric bike in conjunction with Philips.
  • 1954: Gazelle went public and completed its 1 millionth bike.
  • 1992: Princess Margriet dubbed the company Royal Gazelle as it completed its 8 millionth bike.
• 2011: Pon acquired Cervélo Cycles.
  • 1995: Gerard Vroomen and Phil White created Cervélo to produce racing bikes. The company's headquarters are in Santa Cruz, Ca and manufacturing facilities in Canada.
• 2015: Pon acquired Imtech Marine.
• 2019: Pon acquired Urban Arrow.
• 2021: Pon acquired Mikes Bikes which is a chain of bike stores in California.
• 2021: Pon acquired Dorel Industries

  History of Dorel Industries

  Dorel was founded to created products and furniture for juveniles.

  • 1962: Leo Schwartz founded Dorel Co. Ltd.
  • 1987: Dorel merged with Ridgewood Industries which was founded in 1969.
  • 2004: Dorel acquired Pacific Cycle

    History of Pacific Cycle

    • 1977: Chris Hornung founded Pacific Cycle as a tool for sourcing bicycles from the Far East.
    • 1998: Wind Point Partners acquired a controlling interest in Pacific Cycle.
    • 2000: Pacific Cycle bought the bicycle division of Brunswick Corporation for $60 million.
    • 2001: Pacific Cycle bought assets of Schwinn/GT Corporation from Questor Partners.

      History of Schwinn

      Schwinn Bicycle became the largest manufacturer of bicycles in the United States. The company began outsourcing its manufacturing after a strike. They fell into bankruptcy and a variety of owners. The name continues as a brand.

      • 1997: Questor Partners Fund, led by Jay Alix and Dan Lufkin, purchased Schwinn Bicycles from Zell/Chilmark.
        • 1993: Zell/Chilmark Fund acquired bankrupt Scwhinn and moved its headquarters to Boulder, Colorado.

          The Formation of Schwinn

          • 1895: Ignaz Schwinn (1860–1948) and William Arnold (a meat packer), he founded Arnold, Schwinn & Company in Chicago.
          • 1912: Schwinn acquired Excelsior Company which made motorcycles.
          • 1917: Scwhinn acquired Henderson Company which merged into Excelsior-Henderson.
          • 1929: Schwinn announced the end of the motorcycle line after the stock market crash of 1929.
          • 1931: Excelsior ceased production.
          • 1957: The Department of Justice sued Scwhinn for restraint of trade for placing limits on practices of companies selling and servicing their bikes. Schwinn most most of the points.
          • 1967: Supreme Court of the United States sued Schwinn for constraints placed on bike distributors. Schwinn lost and gradually replaced independent distributors with internal distributors.
          • 1954: Schwinn introduced the Corvette bike.
          • 195?: Schwinn introduced the Schwinn Twin tandem bike.
          • 1962: Schwinn introduced the Sting-Ray which had a banana seat.
          • 1977: Giant Bicycles of Taiwan began manufacturing Schwinn bikes as an OEM.
          • 1980: factory workers in Chicago voted to affiliate with the United Auto Workers. 1,400 workers walked off their job for 13 weeks. As the factory was outdated, Schwinn began outsourcing to Japan.
          • 1987: Schwinn switched to China Bicycle Company in Shenzhen China.
          • 1992: Schwinn filed for bankruptcy.
          • 1995: Huffy made a $60 million offer to buy Schwinn, but sale fell through.
        • 1993: Richard Schwinn, great-grandson of Ignaz, along with Marc Muller bought the Schwinn Paramount plant in Waterford, Wisconsin to start Waterford Precision Bike.
        • 1998: Questor acquired GT Bicycle for $79 million ($8 per share) and added it to Schwinn^3,4

          History of GT Bicycle

          GT Bicycle was created by bike enthusiasts to create a durable option to the Schwinn Sting-Ray which was the leader in the market.

          • 1972: Gary Turner and Richard Long began creating BMX bicycles in Santa Ana, Ca.
          • 1985: GT acquired Dyno which makes BMX accessories and apparel.
          • 1987: GT acquired Robinson Racing.
          • 1989: GT acquired Auburn Cycles.
          • 1989: GT acquired Powerlite.
          • 1993: Bain Capital acquired controlling interest in GT Bicycles.
          • 1995: GT Bicycles held an IPO priced at $14 per share with symbol GTBX. The price dropped to under $10 as the bike market was considered weak.
          • 1996: CEO Richard Long died in a motorcycle accicent.
        • 2001: Questor filed for bankruptcy.
    • 2003: Pacific Cycle acquired InStep L.L.C..
  • 2008: Dorel acquired Cannondale Bicycle Corporation from Pegasus Capital Advisors
    • 1971: 1971 by Joe Montgomery and Murdock MacGregor to manufacture precast concrete housing. They named the company "Cannondale" after a rusty cannon in the park that was inscribed with the name "Dale."
    • 1972: Cannondale introduces a bike trailer called The Bugger. Cyclists like the bags that came with The Bugger.
    • 1983: Cannondale introduced its first road bike.
    • 1984: Cannondale introduced a mountain bike.
    • 1994: Cannondale began producing motorcycles.
    • 1995: Cannondale raised $22 million in an IPO.
    • 2003: Cannondale filed for bankruptcy as is acquired by Pegasus.
  • 2008: Dorel acquired SUGOI Performance Apparel.
  • 2009: Dorel acquired Iron Horse Bicycles for $54.2 million
    • 1987: Iron Horse created performance bicycles. They filed for bankruptcy with $5 million in debt.
  • 2013: Dorel acquired Bicicletas Caloi S/A based in Brazil.
  • 2014: Dorel purchased the juvenile operations of the Lerado Group based in China and Taiwan.
• 2022: Pon acquired Colorado based Elevation Cycles which had 4 stores.

  Elevation Cycles began in 2012 when a former employee of Trek acquired the Bicycle Pedal’r store in Highlands Ranch.

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References:

1. Pon - History (Drawn 7/23/2022)
2. Wikipedia - Pon Holdings (Drawn 7/23/2022)
3. LA Times - Questor acquires GT Bicycle (Drawn 7/25/2022)
4. Encyclopedia.com - GT Bicycle (Drawn 7/25/2022)
5. Reuters - Dorel Closes Plant (Drawn 7/25/2022)

Directory Listings:

• Denver Color - Bicycle Shops: Elevation Cycles

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