Deals
LeBron James Invests in Canyon Bikes to Help Fund US Expansion
- NBA star’s family office will be minority shareholder
- US represents about a quarter of Canyon’s group revenue
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Los Angeles Lakers basketball star LeBron James is betting on the boom in cycling with an investment in Germany’s Canyon Bicycles GmbH.
Canyon has raised 30 million euros ($30.5 million) from LRMR Ventures, the family office of James and sports marketing businessman Maverick Carter, and US private equity firm SC Holdings, according to a statement Friday.