Norton will continue to retain its distinctive identity with dedicated and specific business plans.
TVS Motor Company, India’s fourth-largest two-wheeler manufacturer, on April 17 announced the acquisition of Britain’s iconic sporting motorcycle brand Norton in an all-cash deal.
The Chennai-based company will pay GBP 16 million (Rs 153.2 crore) by acquiring certain assets of Norton Motorcycles (United Kingdom) (in administration) through one of its overseas subsidiaries. This is the first-ever overseas acquisition by TVS Motor Company.
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, TVS said in a release.
Norton Motorcycles is known for their classic models and eclectic range of luxury motorcycles ranging from 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. We will extend our full support for Norton to regain its full glory in the international motorcycle landscape. 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,” said Sudarshan Venu, Joint Managing Director, TVS Motor Company.
TVS said it 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, we believe that Norton Motorcycles can leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets, the company added.The acquisition was undertaken under the guidance of financial advisors, Rothschild and Co, and legal advice for the transaction was provided by Khaitan & Co, and Slaughter and May.