Vittoria tires has been bought by Italian fund Wise Equity for a non-disclosed fee. Rudi Campagne, the current owner, will be retiring at age 79 in July, which allows Stijn Vriends of Wise Equity to take over as President and CEO. Campagne will remain on as non-executive in the Vittoria Board, and will become ‘honorary chairman for life’.
When Campagne first bought Vittoria in 1990, it was a much smaller company that employed fewer than 180 people. It has grown in the past 30 years to now employ 1,300 people and produces 7 million tires a year with annual sales of €60 million.
In recent years, Vittoria has invested heavily in six tyre factories in Thailand, which Mike Levy toured last year
, where it produces tires for itself and other brands. Vittoria are also the only tyre brand that produces 4 compound tires and tires that use graphene with its Graphene 2.0 technology.
It's these graphene tires that Wise Equity seem most interested in, especially for e-bikes and urban bikes, and the news follows a recent claim from Vittoria
that their graphene tires make e-MTB batteries last longer. Vriends said, "It’s more exciting than ever to be part of the ever-changing urban mobility landscape and our graphene tyre technology, developed for sport bicycles, can now become our dominant competitive edge in the urban bike category, as graphene tires are ideal for city-and-e-bikes, which need long endurance tires that don’t run flat."
Vittoria’s production & production development remains in Thailand, but it is now moving its European headquarters to a recently built €7 million office, test centre and warehouse in Bergamo, Italy. Campagne said: "Me and my partners eventually always wanted to bring the brand home to Italy, the cradle of the cycling world. Turning over the reins to Wise Equity therefore feels like the completion of a cycle."