Groupe Bruxelles Lambert SA (ENXTBR:GBLB), Future Shape LLC and Roman Arnold signed a definitive agreement to acquire Canyon Bicycles GmbH from TSG Consumer Partners, LP, Roman Arnold and others on December 15, 2020. Groupe Bruxelles Lambert SA will acquire a majority stake in Canyon Bicycles GmbH. As part of the transaction, Tony Fadell, who runs Future Shape LLC will also co-invest alongside Groupe Bruxelles Lambert SA and be a member of the advisory board. Tony Fadell's product expertise, alongside his team at Future Shape LLC, will provide a great support to Canyon Bicycles GmbH's management team to further accelerate growth in the coming years. Also, significant minority shareholder TSG Consumer Partners, LP will fully exit its stake. The founder of Canyon Bicycles GmbH - Roman Arnold, will remain the chairman of the advisory board and reinvest a significant part of his proceeds alongside Groupe Bruxelles Lambert SA. As of February 19, 2021, the transaction has been approved by European Commission. The transaction is expected to be completed, once the necessary regulatory authorizations are received, during Q1 2021. As of March 9, 2021, Groupe Bruxelles Lambert completed the acquisition and holds 53.32% stake in Canyon Bicyles GmbH. The acquisition price paid by GBL amounts to approximately €750 million.

Michael Wahl, Murat Deniz, Emre Vanlioglu and Charles Collier of Eight Advisory provided financial due diligence, SPA and equity bridge support to Groupe Bruxelles Lambert. Tom De Troyer, Fabrizio Bertozzi and Benjamin Richy, provided operational due diligence support to Groupe Bruxelles Lambert. Ralph Drebes and Andreas Müller of Linklaters Oppenhoff & Rädler acted as legal advisors to Groupe Bruxelles Lambert in the deal. Robert W. Baird & Co. Incorporated acted as financial advisor to Canyon Bicycles GmbH in the transaction. Jan Bauer, Ruediger Schmidt-Bendun, Holger Hofmeister, Johannes Kremer, Joerg Hanke, Johannes Frey, Thorsten Goetz and Ulrich Ziegler of Skadden, Arps, Slate, Meagher & Flom LLP. Winfried M. Carli of Shearman & Sterling advised BNP Paribas and Landesbank Baden-Wuerttemberg on the financing of the acquisition of Canyon Bicycles GmbH. Baker McKenzie acted as legal advisor to Groupe Bruxelles Lambert SA.

Groupe Bruxelles Lambert SA (ENXTBR:GBLB), Future Shape LLC and Roman Arnold completed the acquisition of Canyon Bicycles GmbH from TSG Consumer Partners, LP, Roman Arnold and others on March 9, 2021. Shearman & Sterling LLP acted as the legal advisor to the Canyon Bicycles GmbH.