Jan Toye, a major player in the Belgian beer industry,...

Jan Toye, a major player in the Belgian beer industry, is the new majority shareholder of Eddy Merckx Cycles, the bicycle company founded by the famous Belgian bicycle racer. Toye has acquired the shares controlled by Joris Brantegem, the founder of the Brantano retail chain, lifting Toye's stake in Eddy Merckx Cycles to 85 percent. The remaining shares are spread between Merckx himself, who holds 6 percent and Kurt Moons, the chief executive of Eddy Merckx Cycles, who has 9 percent. Reportedly, the company's sales declined by €2 million to €14.6 million in 2012. Toye's holding company, Diepensteyn, is active in the beer business as the owner of Palm Breweries and other beer producers.