<article><a style="color: #000080;" href="http://DealstreetAsia.com/tag/hero-cycles">Hero Cycles Ltd</a> agreed to buy a 60 per cent stake in Sri Lankan bicycle maker BSH Ventures Pvt. Ltd, for an undisclosed sum. This marks Hero Cycles&#8217; third acquisition in six months.</article>

<a style="color: #000080;" href="http://DealstreetAsia.com/tag/hero-cycles">Hero Cycles Ltd</a> agreed to buy a 60 per cent stake in Sri Lankan bicycle maker BSH Ventures Pvt. Ltd, for an undisclosed sum. This marks Hero Cycles&#8217; third acquisition in six months.
The acquisition is in line with the company’s intention to strengthen its global presence to cater to rising global demand, Hero Cycles said in a statement.
“This is a major strategic acquisition for us as we work to expand our presence globally— both in terms of sales as well as presence,” Hero Cycles chairman and managing director Pankaj Munjal said.
Hero Cycles will further invest in increasing the plant capacity in Sri Lanka to 500,000 units per year, he added.
BSH Ventures is an export-oriented bicycle manufacturing company located in the Biyagama Export Zone in Sri Lanka, which has a license to manufacture popular British brand Raleigh Cycles.
In September last year, the Hero Motors group-led company had acquired Ludhiana-based premium bicycle company <a style="color: #000080;" href="http://DealstreetAsia.com/tag/firefox">Firefox Bikes Pvt Ltd</a> for an undisclosed amount, to further strengthen its position in the fast-growing premium bicycle sector in India.
Avocet Sports was Hero Cycles’ first overseas acquisition and marked its entry into mass segment of European bicycle market.
The acquisition of BSH Ventures has enabled it to actively build this facility as a key hub for manufacturing its premium bicycles to meet the global demand, and double up exports to <a style="color: #000080;" href="http://www.avocet.com/">Avocet</a>, Hero Cycles said.
Incorporated in 1956, Hero Cycles claims to be the largest producer of cycles in the world, with an overall marketshare of about 40% in India. The company has a manufacturing capacity of 7.5 million bicycles a year, with its units in Ludhiana, Bihta and Ghaziabad. HeroCycles also exports bicycles to other markets of Asia, Middle East, Africa and Europe. The company also manufactures automotive rims and various other auto components.
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Hero Cycles Ltd agreed to buy a 60 per cent stake in Sri Lankan bicycle maker BSH Ventures Pvt. Ltd, for an undisclosed sum. 

India: Hero Cycles acquires 60% stake in Sri Lanka’s BSH Ventures

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India: Hero Cycles acquires 60% stake in Sri Lanka’s BSH Ventures

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