Mavic has been saved but Bernard Hinault misses out on taking over the French wheel brand
The iconic company has been struggling through financial hardship, but its future looks more secure
The iconic wheel brand Mavic has been saved from closure, but will not be taken over by Bernard Hinault.
Mavic has been battling through financial difficulty and was placed into receivership earlier this year, as a buyer was needed to secure its future.
Tour de France legend Bernard Hinault was one of 14 potential buyers for the French company, after he said it was “his turn to help.”
But on Tuesday (July 21), a court in Grenoble in the south of France ruled that Mavic would be taken over by the Bourrelier Group, a French family holding company, France Bleu reports.
The takeover means Mavic will keep 105 out of the 210 staff it currently employs, as well as its research and development facility, and its production site.
Bourellier, which owns French DIY chain Bricorama, said its plans to focus on the aluminium and carbon rim, hub and wheel aspects of the Mavic business.
Mavic, founded in 1889, is best known for its wheels but has also expanded into shoes and clothing over the years.
In a statement, the new owner said: “Mavic must rediscover the dimension of a family SME with agile governance and short and autonomous decision-making circuits that it has lacked in recent years, and with a refocus on what has made the success of the brand."
Mavic has had a longstanding relationship with the Tour de France lasting 40 years, offering neutral service to riders from the famous yellow support vehicles.
Last month Bernard Hinault, five-time winner of the Tour de France, was one member of a group offering financial support to Mavic.
Hinault said: “It is a brand that has accompanied me all my career. Mavic is inseparable from cycling. They were always at the service of the riders in trouble, and now it’s my turn to put myself at the service of Mavic’s men and women.”
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But Mavic’s future now lies with Bourrelier, which says it is “committed to the long-term redeployment of a French industrial company of international renown.”
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Alex Ballinger is editor of BikeBiz magazine, the leading publication for the UK cycle industry, and is the former digital news editor for CyclingWeekly.com. After gaining experience in local newsrooms, national newspapers and in digital journalism, Alex found his calling in cycling, first as a reporter, then as news editor responsible for Cycling Weekly's online news output, and now as the editor of BikeBiz. Since pro cycling first captured his heart during the 2010 Tour de France (specifically the Contador-Schleck battle) Alex covered three Tours de France, multiple editions of the Tour of Britain, and the World Championships, while both writing and video presenting for Cycling Weekly. He also specialises in fitness writing, often throwing himself into the deep end to help readers improve their own power numbers. Away from the desk, Alex can be found racing time trials, riding BMX and mountain bikes, or exploring off-road on his gravel bike. He’s also an avid gamer, and can usually be found buried in an eclectic selection of books.
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