The Raleigh company made its first bicycles in the 1880s, and 50 years later could boast that it owned the largest and most modern cycle factory in the world, with a 6,000-strong workforce. In the 1950s it bought its rivals BSA and Triumph, and then in 1960, Raleigh itself was acquired by Tube Investments, which owned most other British cycle brands. Raleigh production in Nottingham ceased in 2003, when manufacture and assembly moved to Taiwan and Vietnam. The new company, known as Ti-Raleigh, lasted in British hands until 1987, when it was bought by a German bike manufacturer, Derby Cycle. Pon Holdings (Pon Holdings subsidiary company’s are: Derby Cycle, Gazelle, Cervélo, Santa Cruz Bicycles etc.), a Dutch company, bought Derby Cycle in 2012.