Accell Group NV's Subsidiary to Cease Bicycle Manufacturing and Assembly Activity; To Affect Employees' Contracts

Accell Group NV (Accell Group) announced that its subsidiary Raleigh Canada Limited (Raleigh Canada) will cease the bicycle manufacturing and assembly activity of its Waterloo, Quebec facility in 2013. The facility will continue to support Raleigh Canada's presence in Canadian market as a distribution and service fulfillment center. The manufacturing and assembly activities in Waterloo take place on a seasonal basis. As a result of the termination of these activities, contracts of approximately 100 employees will cease at the end of the seasonal production cycle in June 2013. The reorganization costs will amount to approximately EUR 1.5 million. The reorganization will contribute positively to Accell Group's results as from 2014.