One of Europe's largest bicycle manufacturers and owner of the Raleigh brand has agreed to pay € 1.56bn under the auspices of the US financial group KKR as confidence in cycling grows. The deal sees Accell Group from the Netherlands at € 58 a share, a 26 percent price cap on Friday, leading to a 24% increase in the company's assets up to € 57.20 by Monday morning. Other well-known brands are Haibike, Ghost, Koga, Sparta and Batavus. Accell could be better off under normal ownership to grow in the long run because marketing difficulties are disrupting the business as the epidemic increases the demand for bicycles, Accell and KKR alliance said in a joint statement. "The Consortium is committed to advancing the development of the Netherlands as the world capital of motorcycles by building the company's leading e-bike market in Europe and continuing to grow its strong business," said Daan Knottenbelt, Benelux CEO at KKR.