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20 September 2024

Tandem Group plc

(the 'Group' or 'Company')

Brand Partnership

Tandem Group plc (AIM: TND), designers, developers, distributors and retailers of sports, leisure and mobility equipment, announces it has entered into an agreement to be the exclusive distribution and sales partner for VanMoof in the UK.

The Company expects the first batch of VanMoof's e-bikes to arrive in the Group's warehouses this week. After a period of onboarding and training, the Company will start selling VanMoof's current product line-up - the S5 and the A5 e-bikes - later in Q4, with more products following early next year.

VanMoof, which was acquired in September 2023 by McLaren Applied, was founded in 2009 and creates connected urban e-bikes. Its innovative products became global cultural icons, pushing the entire industry forward. Unique features like the boost-button and the kick-lock, combined with its head-turning design turned VanMoof into a leading brand in its category. Following integration into McLaren Applied, VanMoof started production of spare parts for older models, rebuilt its supply chain and released updated versions of their latest e-bikes - focussing on reliability and connectivity.

VanMoof will be distributed alongside the Group's existing iconic British brands including Dawes, Claud Butler, Elswick, Falcon, Pure and Squish, the award-winning lightweight children's bike range.

Peter Kimberley, Group CEO, commented: "We are thrilled to have established an exclusive partnership with VanMoof. Their team is incredibly passionate and talented, and their ambitious vision for UK growth aligns perfectly with our wider strategy of offering our dealer network the finest e-bike brands. The technology and innovation behind these award-winning bikes are truly impressive, and we're excited to introduce the full range to our dealers in the coming weeks."

Eliott Wertheimer, Co-CEO of VanMoof commented: "One of the key challenges we took on with VanMoof was radically changing its business model and creating a retail and service network that can represent our brand and support our riders well. Over the last 12 months we successfully managed to build a sales and service network that now spans more than 150 partners across 7 markets. When approaching the UK, we were impressed by Tandem, with its deep expertise and extensive roots in the market. Collaborating with them will allow us to support our riders and distribute our innovative products to a wide audience quickly. We strongly believe in Peter, his team and Tandem's network and look forward to sharing the joy our products can create with new fellow UK riders."

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Enquiries: 

Tandem Group plc 

Peter Kimberley, CEO 

Gurvinder Kaur, CFO and Company Secretary 

Telephone 0121 748 8030 

Cavendish Capital Markets Limited (Nominated Adviser and Broker)

Ben Jeynes / Dan Hodkinson - Corporate Finance 

Michael Johnson / Charlie Combe - Sales and Equity Capital Markets

Telephone 0207 220 0500