Zhejiang CFMOTO Power Co., Ltd (CFMOTO) announces the completion of the 100 percent acquisition of the European Off-Road brand GOES.
The acquisition supports CFMOTO’s strategy to further increase their presence and market share in the global off-road vehicle market. In an increasingly competitive and challenging ORV market environment, this acquisition aims to capitalize on the highly complementary capabilities of CFMOTO and GOES and will enable both brands to release new products to the market faster.
CFMOTO and GOES will have distinguishing brand positionings, with separate product portfolios geared towards the needs of a larger customer base.
The acquisition will also help CFMOTO and GOES to further optimize their current distribution networks.
About GOES
The GOES brand was established by GOES Europe S.A.R.L. in 2004. GOES Europe S.A.S.U has been an OEM partner of CFMOTO since then. By the end of 2023, GOES serves a distribution network of more than 1200 dealers in over 17 EU countries.
About CFMOTO
Founded in 1989, Zhejiang CFMOTO Power Co., Ltd. is a Chinese powersports company that develops, manufactures, markets and delivers reliable motorcycles, off-road vehicles, engines, parts, apparel and accessories. Today, CFMOTO has built a robust market share in over 100 countries and regions through more than 3000 dealers worldwide.