Berria Bikes introduce Suma Capital as a shareholder
Spanish performance bicycle brand Berria Bikes has announced Suma Capital, a leading multi-asset manager in sustainability funds, has joined their project as a minority shareholder.
The move reaffirms Berria Bikes ambitious international expansion plans, with the investment mainly utilised to support the company’s growth in international markets, also providing resources to strengthen its structure and balance sheet. The operation has been channelled through the SC Growth Fund II vehicle, the expansion capital fund managed by Suma Capital.
Berria Bikes closed its last financial year with a turnover of €16 million, with 35% of sales coming from the international markets. The brand currently has over 400 specialist points of sale in 30 countries, including Spain, France, Italy, Holland, Belgium, and Germany, with Ultra Sport Europe introducing Berria Bikes into the UK marketplace.
Founded by professional cyclists David and José Vitoria, the brand closed the financial year up to June 2022 with a turnover of €16 million, a figure which represents a 55% increase on the previous financial year. During the first half of that year (July-December 2021) 35% of total sales came via the international market, up from 25% over the same period in 2021.
The introduction of investment from Suma Capital reinforces the company’s business plan for the coming years, with the Victoria brothers remaining at the head of its management. David Vitoria will remain as CEO while brother José Vitoria will continue to lead on design and development in his role as Global Product Manager.
On announcing the new investment Berria CEO David Vitoria said: “Suma Capital are the ideal partner to support us in this new and exciting phase for the company, where our goal is to continue penetrating the international market and continuing to create a leading brand in the high-performance segment. Berria Bikes and Suma Capital share the same values, especially regarding the importance of sustainability.”
Suma Capital Partner Manuel Cebrián comments: “At Suma Capital, we are very excited to be working with such passionate people in David and José, and ensuring Berria Bikes continues to reach new heights and becomes one of the top 10 bicycle brands in Europe.”
“Our investment will help provide the human and material resources needed to maintain the company’s healthy growth, both organically, through acquisitions, and by implementing the best financial, organisational and environmental practices.”
UK retailers keen to explore the Berria Bikes range in more detail should direct enquires to Ultra Sport Europe Sales Director, Neil Staples, via [email protected] or contact the head office on 01332 813 150.
