Bankrupt VanMoof Acquires LaVoie Electronic Steps Brand, No Room For Majority Of Employees | Economy
E-bike manufacturer VanMoof has been acquired by British McLaren’s e-stepping manufacturer Lavoie. VanMoof reported this. The company said in a statement that Lavoie plans to continue growth through the acquisition and continue to develop the VanMoof business. Lavoie, which makes foldable electric scooters, has reported that there will be room for the lion’s share of VanMoof’s original number of employees.
According to the trustees, the company has agreed to buy the company’s stock and shares, among other things. The financial amount involved in the deal was not disclosed. “With next generation e-bikes, smart technology, innovative design and a loyal customer base, VanMoof and Lavoie are a perfect fit,” said Elliott Wertheimer, CEO of Lavoie. He expressed his ambition to keep VanMoof’s 190,000 customers worldwide “on the road, while we stabilize VanMoof’s business and allow it to grow efficiently.”
Lavoie says via a spokeswoman that the restart will lead to job losses. For example, 700 VanMoof employees used to work for VanMoof, but the e-scooter maker thinks it will last with fifty to sixty VanMoof people. Although the spokeswoman points out that – shortly after the announcement – it is not yet certain if these are the final figures.
Consequences for customers
What exactly the acquisition means for VanMoof’s customers is not yet known. The final closing of the acquisition is scheduled for September 4. After that, more will be known about what the deal means for VanMoof’s customers, the trustees said.
A month ago, the e-bike company VanMoof was declared bankrupt by the court in Amsterdam. The company ran into problems due to the need for large investments. The debt load at the time of bankruptcy was approximately 144 million euros. One trustee previously feared that many creditors would never see their money again. The expectation was that the acquisition could offer a solution to consumers who had already made a down payment on a bicycle, for example, and have now lost that money.
McLaren, famous in Formula 1, wants to achieve further growth by taking over as a premium brand in the electric car sector.
The offer was rejected
The US micromobility.com was also on the way to acquisition. But the company’s CEO reported last week that his bid had been rejected. Micromobility.com makes electric bicycles and scooters and is active in the United States and Europe.
Since VanMoof was founded, 190,000 bicycles of this brand have been sold worldwide. VanMoof had its own stores in twenty cities around the world. Business units outside the Netherlands are not included in bankruptcy.
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