Pon Holdings, the Dutch-based international trading and service company that recently acquired Derby Cycle, Gazelle and Cérvelo, has grouped these assets into a newly created Pon Bicycles Business Group, according to Bike Europe. It will be based in the German town of Cloppenburg, where Derby has its head office. The unit will be run by Xeno Grimmelt, former interim manager of Gazelle. He will be replaced in that position as of May 1 by Jaap Merkus, who comes from Philips. Pon is also involved in the distribution and maintenance of cars, trucks, buses, construction equipment and products for transport and logistics. It employs almost 11,000 people in 20 countries. Meanwhile, Derby Cycle, which is the largest bike manufacturer in Germany, has reported a 6.6 percent increase in sales to €40.3 million for the first quarter ended Dec. 31, with around 82,000 sold units, but warned that its profits were hurt by exceptional charges linked to Pon's acquisition and to Accell Group's previously investment in the company.

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