Grenoble, France - After going into receivership earlier this summer, Mavic has now been acquired by French investment group, Bourrelier. At the end of July, the group was approved as Mavic’s new owner the Grenoble commercial court which was overseeing the receivership.

Bourrelier Group, formerly Bricorama SA, is a family business listed on the stock exchange since 1996. Founded in 1975 by Jean-Claude Bourrelier, the group in specializes in DIY retail, under the Bricorama and Batkor brands, in France and Spain. With 1,500 employees, it is continuing to develop its DIY activities in Belgium and Holland under the Gamma and Karwei brands.

According to the reports, the Bourrelier Group's plan will keep Mavic's R&D facilities in Annecy, France and production in St. Triviers, and will protect 105 jobs, while another 100 employees will lose their jobs.