Felt Bicycles will be sold for the third time in six years. Pierer Mobility, an Austrian company that owns various bicycle, e-bike, and motorcycle brands, has decided to sell control of the Felt Bicycles brand to a consortium led by Florian Burguet.
In a move to focus the company’s interests on its entities that produce motorcycles and e-bikes, the board of directors decided to divest the North American company Felt, as well as the bicycle brand R Raymon.
The sale of Felt Bikes has not been officially completed yet. However, the selling process for the brand has been initiated, with completion expected in the first half of 2024.
Florian Burguet, whose role in the Pierer Mobility corporation was as managing director of KTM Canada, will leave his position as a board member of the Pierer Mobility group to lead the Felt brand in the future.
Felt was founded in 1991 by motocross mechanic Jim Felt and initially focused on producing time trial and triathlon bicycles in collaboration with Answer Sports. In 2000, the company became independent after a division. Over the years, Felt expanded significantly and was purchased by the Rossignol Group in 2017 before being sold to Pierer at the end of 2021. Just two years later, the company changes hands once again.
In an announcement on Wednesday, the Pierer Mobility Group described 2024 as a “year of consolidation,” outlining cost-cutting measures exceeding tens of millions of dollars.