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Sale of Pinarello to French Luxury Brand LVMH Finalized

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After months of spurious details, Fausto Pinarello confirmed that the sale of his eponymous bike brand to the French luxury brand, LVMH, was finalized today. 

In a press release, Pinarello said: “I am extremely pleased to announce the closing of the deal today; it represents a new beginning.”

“This investment aims at reinforcing the company, supporting the development and growth of the Pinarello brand at a global level.”

Pinarello reported sales of €52 million during the 2015/2016 production year, with some 30,000 bikes sold across more than 50 countries.

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Late last year, it was rumored that the US-based private equity group, L Catterton, had all but purchased the iconic Italian brand on be half of LVMH. 

However, it wasn’t until today that the final acquisition was confirmed.

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