American basketball star LeBron James has acquired a minority stake in the Koblenz-based bike manufacturer Canyon Bicycles through an investment company.
The move was made by LRMR Ventures, a company owned by James and his business partner Maverick Carter, along with US financial investor SC Holdings, according to Groupe Bruxelles Lambert (GBL) in Canyon on Friday. Belgian investment firm GBL joined the bicycle maker at the end of 2020. According to Canyon, the investment of the new financiers is about 30 million euros.
GBL said the basketball star should use his fame to help drive Canyon’s growth in the United States. The 37-year-old is one of the NBA stars and plays for the Los Angeles Lakers. Last year, along with Carter, he also acquired shares in the Fenway Sports Group with LRMR, among others, thus becoming a co-owner of Liverpool FC.
The Canyon company, which has about 1,400 employees worldwide and a turnover of €416 million in 2020, manufactures race bikes, triathlon bikes, mountain bikes and e-bikes, among other things. The manufacturer is heavily involved in professional sports and works with athletes such as cyclist Matthew van der Poel and triathlete Jan Frodino. Canyon also sells bikes to private clients through direct sales. The company’s founder, Roman Arnold, is also a shareholder in the Koblenz-based manufacturer.
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