Acquisition to boost two-wheeler market
TVS Motor Company has acquired Britain’s most iconic sporting motorcycle, “Norton”, in an all-cash deal for a consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of TVS Motor’s overseas subsidiaries.
This will be one of the most interesting acquisitions of a storied motorcycle maker in recent times and will reflect TVS Motor Company’s and India’s rapidly rising prominence in the international two-wheeler market.
Founded by James Lansdowne Norton, in Birmingham, in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time and is one of the most emotive marques today.
Since the 20th century, Norton Motorcycles is renowned for their classic models and eclectic range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to their contemporary 200 bhp, 1200cc V4 super-bikes.
“This is a momentous time for us at TVS Motor Company. Norton is an iconic British brand celebrated across the world and presents us with an immense opportunity to scale globally,” said Sudarshan Venu, Joint Managing Director, TVS Motor Company.
The transaction is in line with our effort to cater to the aspirations of discerning motorcycle customers.
“We will extend our full support for Norton to regain its full glory in the international motorcycle landscape.” Venu assured.
Norton will continue to retain its distinctive identity with dedicated and specific business plans.
TVS Motor will work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand and we look forward to growing together globally in the years to come. fiinews.com
