Finnish bicycle manufacturer Helkama Velox Oy announced that it had acquired the intellectual property rights relating to the Tunturi bicycle brand, along with bicycle inventory in Turku, Finland. The assets came from the bankruptcy estates of Accell Global B.V., a member of Accell Group, and Tunturi Oy Ltd.

Helkama Velox plans to restart Tunturi bicycle production and bring the design of its bicycle range back to Finland. The details of the production arrangements are still being planned.

Following the acquisition, Helkama Velox will hold three Finnish bicycle brands: Helkama, Jopo and Tunturi. CEO Tero Valtonen said the acquisition would enable the company to expand its conventional bicycle business alongside its electric bicycle range.

Tunturi's bicycle history dates back to 1922, when brothers Aarne and Eero Harkke founded Pyöräkellari Oy in Turku. The company began manufacturing bicycles in the 1930s. Tunturi's bicycle business became part of Accell Group in 2003, and bicycle production moved from Turku to Hungary in 2006.

The transaction covers only the rights relating to Tunturi bicycles. It does not include the use of the Tunturi brand for exercise equipment or mopeds.

Photo: Helkama Velox