Singapore-based Dutech Holdings has completed the acquisition of selected brands and assets from bankrupt Dutch bicycle group Accell, expanding its European bicycle business through a deal that combines established consumer brands with local manufacturing operations.
Announced on October 9, the transaction covers the Batavus, Koga, Carqon, Loekie and Babboe bicycle brands, the XLC components brand, associated IT systems and platforms, and Accell’s Hungarian operations, including its bicycle factory. Financial terms were not disclosed. The purchase was arranged with Accell’s bankruptcy administrators and does not constitute an acquisition of the entire group.
The agreement follows an earlier attempt to acquire Accell as a whole that did not proceed. Accell entered bankruptcy in August after financial difficulties linked to excess bicycle inventories following the pandemic and setbacks including the Babboe cargo-bike recall. Its bicycle inventory was sold separately to Dutch retailer 12GO Biking.
Discussions over Accell’s German operations were continuing when the asset deal was announced. Some implementation details also remained unresolved, including employee retention and the timing of the IT platform transfer, which administrators still needed for the bankruptcy process.
Dutech has been expanding its European mobility business alongside its China-based manufacturing subsidiary, Tri Star Group. In 2023, it acquired the insolvent German Prophete group and subsidiary Cycle Union, adding brands including Kreidler and VSF Fahrradmanufaktur. Subsequent acquisitions extended its manufacturing presence in Germany and Poland. The Accell assets add another production base and a broader portfolio of European bicycle names.
Dutech CEO Johnny Liu said the immediate priority was to stabilize operations with employees, dealers and suppliers and provide clarity on products, deliveries and service. That task is central to the acquisition’s commercial value: established brands provide a route to customers, but their recovery depends on reliable supply and continued dealer support.
For Chinese-linked manufacturers expanding overseas, the transaction illustrates how acquisitions can connect Asian production capabilities with European brands and local operations. It also exposes the demands of that approach. Buying assets from an insolvent business requires rebuilding operating continuity alongside integrating manufacturing and supply chains. Dutech’s next test will be turning its enlarged portfolio into dependable deliveries and sustained sales.
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