Halle/Nieuw-Vennep, October 18, 2021 – Korys, the investment company of the Belgian Colruyt family, joins the Dutch company Santos Bikes. LEVA-EU members Santos is an independent bicycle manufacturer that builds sustainable and technically high-quality (e)bicycles, tailor-made for each individual cyclist. The investment fits very well with Korys’ investment philosophy, which focuses on consumers who are conscious about their health and think about their impact on the environment. The involvement of Santos founder Robbert Rutgrink (CEO) and investor Robert Vaneman (also current CFO) remains unchanged. Think2Act hands over the torch to Korys after 4 years, but looks back with satisfaction on the collaboration.
“Sustainable mobility and a healthy lifestyle are themes that we want to continue to focus on. The bicycle is becoming increasingly important, both from a recreational and functional point of view. The pandemic has only accelerated this process further,” said Thomas De Kempeneer, Investment Director at Korys. “Santos now has access to the knowledge and expertise of Korys’ extensive network and we look forward to working with Santos management to further professionalize the organization.”
Santos founder Robbert Rutgrink adds: ‘We notice that demand from abroad is increasing and we see a lot of growth potential. Geographical expansion and further expansion of our offer will therefore be key focal points with the arrival of Korys.”
In addition to custom built (e)bicycles for consumers, Santos also builds patrol (e)bikes for professional organizations. The extremely long lifespan and high reliability of the (e)bicycles has ensured that Santos has been supplying police services at home and abroad for more than 15 years.
“We look back with satisfaction on the past few years, in which Santos has grown significantly, not least thanks to their customer-oriented customization philosophy and the sustainable character of the Santos (e)bicycles,” says Pieter Walravens of Think2Act. “With Korys, a strong new shareholder will come on board, who will provide excellent support to the Santos team in the next phase of growth. And of course we remain absolute Santos fans!”
Korys is the investment company of the Colruyt family, which currently manages assets of more than EUR 4.5 billion. Korys not only owns a large interest in the Colruyt Group, a leading retail company in Belgium and France, but also actively manages interests in unlisted companies and private equity funds. The investment company has also developed its own funds to manage its portfolio of listed investments. It always makes its investment decisions from a long-term perspective, taking into account strict economic (Profit), social (People) and ecological (Planet) criteria. Korys strives to create sustainable value in 3 key ecosystems: Life Sciences, Energy Transition and Conscious Consumer. To achieve this goal, Korys has a team of 30 professionals in Belgium and Luxembourg.
About Santos Bikes:
Santos Bikes is an independent Dutch (e)bicycle brand with a passion for bicycles, a great love for quality and an innovative R&D policy. The company was founded in 1997 by Robbert Rutgrink, a talented mountain biker who built his first bicycles in his youth.
The goal of Santos is to build the best (e)bicycle for every individual cyclist. With the right frame for a nice, ergonomic sitting position, the best drive system that meets the specific wishes and the unique possibility to have the bike assembled completely to your own taste. No assembly line production but custom building, where sustainability is of paramount importance.
Every Santos contains Santos Only parts, specially designed in-house for the ultimate cycling experience. All bikes are custom made in the Santos factory just outside Amsterdam. Santos has a large dealer network, mainly in the Netherlands and Belgium. The bikes are also shipped worldwide.