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Colnago is now majority-owned by an Abu Dhabi investment fund

Joe Robinson
5 May 2020

Ernesto Colnago has sold majority shares to Chimera Investments LLC

Legendary bike maker Ernesto Colnago has sold a majority share of his bike company to an Abu Dhabi investment fund. The Italian bike brand confirmed that Chimera Investments LLC, based in Abu Dhabi, had acquired a majority stake in the company. 

In a press release, 88-year-old Ernesto said that, 'Chimera investments will give Colnago the ability to grow and increase its presence in all markets, whilst maintaining and improving the quality of Colnago products.'

He continued by stating that this new opportunity under new ownership 'will ensure that we continue to build the world's best bikes well into the future'.

Established in 1954 just outside Milan by Colnago himself, the bike brand rose to prominence as one of the highest-quality frame manufactures, not least due to Colnago's relationship with Eddy Merckx.

From there, the brand became one of the most successful and coveted bike manufacturers worldwide supplying frames for teams such as Mapei and Rabobank while also being incredibly popular with amateur riders.

The brand is still associated with the men's WorldTour, supplying its machines for the UAE-Team Emirates squad. This latest acquisition now strengthens the brand's ties with the United Arab Emirates and comes as no surprise.

One of Colnago's biggest competitors, Pinarello, made a similar move back in 2016 when it was purchased by the Louis Vuitton group.

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