The family of Jan Toye, a major player in the Belgian beer industry, has acquired all the shares in Eddy Merckx Cycle through its holding company, Diepensteyn. The legendary bike racer who lends his name to the brand has sold his 6 percent stake, but he will continue to be involved as its ambassador. Kurt Moons, the company's chief executive, has sold his 9 percent share and resigned. He is being succeeded by Rob Beset, a former general manager of Batavus. Moons is a former chief executive of Brantano, a large Belgian shoe retailer that was taken over by the Dutch Macintosh Retail Group in 2007. According to Bike Europe, Eddy Merckx Cycle had a loss of €2.4 million on sales of €6.2 million in the 2012/13 financial year.

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