Report - Hero Cycles acquires controlling stake in German bicycle giant MIFA
Top-end bicycles will be introduced in India by Hero.
The world's largest bicycle maker by volume, Hero Cycles, has acquired a 60% stake in Mitteldeutsche Fahrradwerke AG (MIFA), Germany's largest bicycle maker, via OPM Global.
The buyout is Hero Cycle's first overseas purchase and is considered to be a part of the company's plans to become a global player. PTI reports that the Indian bicycle maker has invested 19 million euros (around IRN 152 crores) in MIFA via its subsidiary OPM Global. A part of this investment would meet the working capital requirements.

Hero Cycles Co-Chairman and Managing Director Mr. Pankaj Munjal said that, not only would Hero Cycles provide a manufacturing base to MIFA, but will also introduce high quality bikes in the Indian market using MIFA’s German engineering expertise.
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The takeover would result in combined long term R&D operations especially in areas of electric bikes and motors.