TVS Motor Company on Friday announced that it has acquired Britain’s iconic sporting motorcycle, “Norton”, in an all-cash deal for consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of TVS Motor’s overseas subsidiaries.
The brand is renowned for its classic models and eclectic range of luxury motorcycles.
“Norton is an iconic British brand celebrated across the world, and presents us with an immense opportunity to scale globally. This 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,” said Sudarshan Venu, Joint Managing Director, TVS Motor Company.
He added that the brand, which was founded by James Lansdowne Norton, in Birmingham, in 1898 will retain its distinctive identity with dedicated and specific business plans.
Sudarshan said TVS Motor Company is excited about the existing and upcoming products at Norton Motorcycles including Commando, Dominator and V4 RR. Confident of the strong synergy between both the brands, he said Norton Motorcycles can leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets.
Source: Economic Times