Profile

Canyon is the world’s largest Direct-to-Consumer (“DTC”) manufacturer of premium bikes thanks to its early adoption of this distribution model and its industry-leading German design and engineering capabilities. The company is active in three segments (conventional bikes, e-bikes and parts & accessories). Its core markets are the DACH region, the US, Benelux, France and the UK.

2%
Portfolio value 12/31/2025
Investment case

Canyon operates in the premium bike market, with long-term growth supported by structural tailwinds:

  • Increasing popularity of bicycles, especially in the premium segment where Canyon is positioned, as an environmentally-friendly mobility solution and a lifestyle tool
  • Ongoing customer adoption of e-bikes supported by technological advancement and supportive infrastructure
  • Continued focus on the online Direct-to-Consumer (“DTC”) channel, with structural advantages in terms of
    price and convenience

Canyon has become a reference for premium performance bikes:

  • Strong positioning in its core European markets such as DACH, Benelux and the UK with significant brand awareness and market share in core performance categories
  • Successful partnerships with ambassadors such as Mathieu van der Poel, Fabio Wibmer, Valtteri Bottas, Kasia Niewiadoma and Jasper Philipsen
  • Performance DNA supported by the founder Roman Arnold, who remains a significant shareholder alongside GBL with active involvement as Executive Chairman

Canyon can benefit from multiple levers of future value creation:

  • Continuing to grow in Europe, including southern markets where Canyon is underpenetrated
  • Further expanding in the US and Asia, where Canyon has significant room to grow
  • Winning in electric bikes, with a particular focus on electric mountain bikes
  • Improving the customer journey by expanding the omnichannel experience
  • Developing the sports gear offering within the parts & accessories segment
  • Board of Directors 3/5*
  • Audit Committee 4/6*
* Number of GBL's representatives in statutory bodies in relation to the total number of members. Governance information is based on the most recently available information.
  • 1 Permanent guest
AffideaPrevious
ConcentrixNext