Cannondale owner Pon Holdings reports sales of 2B euros in bikes last year

April 2, 2026

Pon Holdings is reporting 2025 revenues of 9.7 billion euros ($11.20 billion) across all its businesses, including automotive and bicycle, with its bicycle business revenue totaling “around 2 billion euros.”

Pon’s bike brands include Cervelo, Santa Cruz, Gazelle, Focus and Urban Arrow. In 2022 it acquired Dorel Sports, which added Cannondale, Schwinn, Mongoose and GT to its portfolio. Pon also owns the Mike’s Bikes retail chain in the U.S. and the Lease A Bike bike rental business.

The privately held group said in 2025 its bike businesss remained profitable and saw positive operating earnings. It said electric bikes accounted for 55% the units it shipped to independent dealers.

“Our bike business continues to face demanding market conditions, although these differ across geographies,” said Janus Smalbraak, who left the Pon Holdings CEO position on Tuesday, being replaced by Christian Dahlheim effective April 1. Bicycle Retailer