Largest IT distributor in Romania, Network One, to absorb bicycle maker Pegas

Network One Distribution (NOD), Romania’s largest IT equipment distributor with a turnover of nearly RON 2 bln (EUR 411 mln) in 2021, will merge and absorb bicycle manufacturer Atelierele Pegas (Pegas Workshops).

Network One already fully owned Pegas, but the merger is set to enhance the latter’s efficiency.

“The merger aims to consolidate the production and distribution of Pegas bicycles at the NOD company level, taking into account the experience gained by combining the production activity for its own brands with the distribution activity,” the merger document states, cited by Ziarul Financiar.

NOD wants to improve and streamline the production and distribution of Pegas bicycles directly.

The bicycle manufacturer had a turnover of RON 6.1 mln last year, 37% lower than the year before. It also had net losses of RON 1.5 mln. Nevertheless, last year Pegas managed to cut net losses by 41% relative to 2020, indicating a chance for a potential future recovery.

Dell, Sony LG, HP, Microsoft, and Samsung use NOD as their distributor in Romania. The company also manufactures and distributes products under its own brands, such as the Heinner household appliances, the Serioux IT accessories and peripherals, and the Horizon monitors, among others.

The merger between NOD and Pegas will become legally effective on September 30.

(Photo source: Pegas)