The Acquisition of CAKE by Brages Holding AS
In February 2024, CAKE, the esteemed Swedish maker of lightweight electric mopeds and motorcycles, declared bankruptcy. However, salvation came in the form of Brages Holding AS, a Norwegian firm that acquired the brand’s intellectual property. With a new team at the helm, CAKE is now charting its course for the future, sharing its early strategies for revitalizing the brand.
Espen Digernes on the Motivation Behind the Acquisition
Espen Digernes, owner of Brages Holding AS, explains their decision to acquire CAKE. He highlights their experience as car dealers in Norway and their observation of the rapid shift to electrification. Digernes sees a similar potential in the micro-mobility sector, which includes motorbikes, scooters, mopeds, and electric bikes. Their initial partnership with CAKE as a retailer revealed the brand’s captivating design, craftsmanship, and story, motivating Brages to advance CAKE from a remarkable Swedish venture into a Scandinavian success story.
Strategic Business Plan for CAKE’s Future
Since the acquisition in March, a comprehensive strategic business plan has been developed for the new CAKE. This plan aims to dominate the premium electric two-wheeler market in selected regions while maintaining the brand’s passion and enthusiasm. The new CAKE team, comprising essential staff from the previous organization, is dedicated to creating high-performance products with unique designs, steering towards a zero-emission future. The team is led by Petra Färm, the former CTO of CAKE.
Petra Färm on the Evolution of CAKE
Petra Färm expresses her excitement about being part of CAKE’s new chapter. She acknowledges that the original journey of CAKE was on the brink of success but required strategic pivots. Färm believes in the great potential of these changes to transform CAKE into a profitable company. During the formation of the new core team, they discovered a deep-seated passion for the brand. CAKE’s legacy of being unique will be upheld, with products meticulously engineered and thoughtfully designed to last. Färm emphasizes CAKE’s strong brand appeal and premium products, positioning it as a significant player in the shift towards sustainable urban mobility solutions.
Reopening of CAKE Headquarters and Brand Store
The CAKE headquarters and brand store in Stockholm have reopened, staffed by the core team. Already produced bikes are now available for sale, marking the beginning of CAKE’s resurgence in the electric motorcycle market.
