Germany’s Heristo Holding, a family-owned food industry group, is acquiring bicycle manufacturer Möve Bikes, which went bankrupt on Feb. 5. Together they want to ensure that one of the oldest German bicycle brands with innovative technologies enjoys a secure future. Heristo’s commitment also ensures that jobs at the Möve site in Mühlhausen will be preserved. In addition, the new investor will ensure that all existing orders for Möve bicycles will be delivered.
With its investment in the Thuringian bicycle manufacturer, Heristo, one of Germany’s largest food industry groups, intends to strategically expand its involvement outside the food segment. The niche supplier Möve Bikes is just one of the company’s latest investments in the mobility and logistics sectors. Both companies emphasize that they share the same vision (albeit from different industries). With Möve, Heristo wants to focus on high-quality standards and innovation “Made in Germany.” According to Heristo, “the manufactory from Thuringia brings the tradition of a historic bicycle brand with the latest technologies in the growth market of new mobility.” Möve has recently been best known for its proprietary, distinctive Cyfly drivetrain.
