TVS Motor Company has completed the acquisition of Norton Motorcycles on an all-cash deal worth 16 million pounds
A few days ago, TVS Motor Company announced the acquisition of Norton Motorcycles. The famed British classic motorcycle manufacturer endured tremendous success in its early days and it became a notorious name in motorcycle racing circle as it was the first ever to win an Isle of Mans TT race in 1907. In an all-cash deal, TVS has bought Norton for 16 million GBP.
Norton Motorcycles had a topsy-turvy history despite being a recognised name and it was mainly due to the change in ownerships at regular intervals. TVS has acquired certain assets of Norton Motorcycles through one of its overseas subsidiaries. This has unarguably been a prolific acquisition in the history of Hosur-based TVS Motor Company.
The buyout reflects TVS Motor Company’s and country’s rapid rise to prominence in the international two-wheeler market. Norton Motorcycles was founded in Birmingham by James Lansdowne Norton in the year 1898 and it is one of the iconic British motorcycle brands of all time and let alone among the evocative marques with a rich tradition.
There is a long list of celebrities and legends from different industries that owned the motorcycles. Norton Motorcycles is famed for their classic models and range of luxury motorcycles ranging from retro classic based on the erstwhile Commando and the mighty V4 superbike series capable of 200 bhp. The biggest question of all the enthusiasts is what does this mean to TVS?
Sudarshan Venu, Joint Managing Director, TVS Motor Company commented that the acquisition presents his brand an immense opportunity to scale globally and is in line with its effort to address aspirations of discerning motorcycle customers. TVS is committed to extend full support for Norton in order for it to get back to its former glory in the overseas markets.
Norton will continue to have its own identity with “dedicated and specific” business plans as TVS looks forward to growing together in the future. The company will also leverage TVS’ global reach and supply chain for reaching out to more potential markets. TVS has also expressed its enthusiasm about the current product lineup of Norton and the forthcoming models including Commando, Dominator and V4 RR.