Home > News

Canyon bikes aquired by group partly controlled by Canada’s Desmarais family

GBL takes 60 per cent stake in popular triathlon bike brand Canyon, with iPod developer also involved

Photo by: Kevin Mackinnon

It began in founder Roman Arnold’s garage in the early 90s, but things really took off for the German bike manufacturer in 2002 when the company was renamed “Canyon.” It sells its products exclusively online at www.canyon.com, and, starting this spring, the company will be selling bikes directly to Canadians.

Canyon bikes have become more popular in the triathlon world over the last few years, especially in Europe. The last five Ironman World Championship men’s titles have been won on the Canyon Speedmax and popular Canadian triathlete Lionel Sanders (pictured) is also sponsored by the company.

Related: Canyon 2021 Speedmax Disc

That expansion is looking all the more likely now with the announcement that Groupe Bruxelles Lambert (GBL) will become the company’s largest stakeholder by acquiring 60 per cent of the company’s shares. Arnold will retain 40 per cent of the company, according to news reports.

GBL is based in Brussels and is controlled by the Desmarais family from Canada and the Frère family from Belgium. The company owns 20 per cent of Adidas. One of the developer’s of the iPod, former Apple senior vice president Tony Fadell, is also one of the investors. According to Canyon, Fadell is an avid cyclist.