Date: 5 July 2024
WeSports has entered into a partnership with Cargobike of Sweden (“Cargobike”) and acquired a significant stake in the Malmö-based cargo bike company. Skarpa has represented the sellers in the transaction.
Cargobike is the market leader within electric cargo bikes and functional mobility in the Nordics. In 2023, they reported a turnover of 116 MSEK and delivered 5,000 cargo bikes. This partnership will significantly boost WeSports’ Bike and Mobility business.
The cargo bike market is growing fast, with more people switching from cars to electric cargo bikes. With WeSports’ support, Cargobike is set to expand into Europe, launch more products, improve logistics, and speed up deliveries.
“The acquisition of Cargobike is an exciting addition to WeSports and in line with our goal – to gather the best specialists into our group. We look forward to assisting Cargobike in their continued growth journey, including further expansion into Europe.”, says Niklas Hammar, COO of WeSports.
“Cargobike has, over the years, established a strong market position in the cargo bike segment. We are seeing exciting growth potential ahead with our new product launches as well as geographical expansion. Together with WeSports, we can accelerate our growth initiatives in multiple areas.” says Peter Demaltén, CEO of Cargobike of Sweden.
Founded in 2007, Cargobike is Sweden’s oldest cargo bike brand. Their HQ and manufacturing facilities are in Malmö, with showrooms in Stockholm and across the Nordics. They design their own models, focusing on quality and continuous improvement.
WeSports is a Nordic sports performance category expert group. WeSports is the leading Nordic specialist in three performance sport areas. Bikes & Mobility, Running & Outdoor, and Training & Team sports. The group had a turnover of 2.3 bSEK in 2023 and continues to show healthy growth in 2024.
Transaction Team
Fredrik Olsson
Caroline Eriksson
Filip Herlin
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