Dutch Bicycle Group Completes Reorganization
Hypo Group acquired Dutch Bicycle Group (DBG) in May last year. DBG’s restructuring, which includes the layoff of six people, was part of the deal.
DBG recently completed restructuring of the sales department. As a result, Business Sales Director Stephan Räkers is currently handling all sales of DBG, reports Bike Europe.
Last spring, CEO Hennie van Rijswijk decided to sell DBG because of a declining market in the Netherlands. His successor CEO Rhody Udo said the DBG was too big to be successful.
Hypo Group plans to divide DBG into two separate companies. First company will focus on the production and sales of bicycles, and second company will offer bike rental schemes, both at home and abroad.