TVS is in deliberations with concerned authorities regarding the acquirement of Norton and it has not made final decision yet
TVS Motor Company is reportedly in talks with Norton Motorcycles for a possible acquirement according to Bloomberg. The homegrown manufacturer is one of the highly successful two-wheeler makers emerging out of the local scenes and its popularity has only grown over the years with the arrival of new products across different segment catering to the needs of the customers.
The flagship Apache RR310 supersport, for example, addresses the performance bike enthusiasts while the latest commuter from the brand, the Radeon, caters to the masses. TVS has also found tremendous success in manufacturing bikes for BMW Motorrad as they are sold internationally. TVS’ main rival domestically has undoubtedly been Bajaj Auto, which is the largest exporter of two-wheelers from India.
Acquiring a brand like Norton could help TVS in a wider scale. The United Kingdom based Classic motorcycle manufacturer entered administration at the beginning of this year as it could not pay required taxes and the liquidation is handled by BDO Global. Norton Motorcycles produced its first bike back in 1902 and over the years, it has been through different owners.
The Hosur-based TVS is one of the interested companies in acquiring Norton whose CEO, Stuart Garner, is being investigated by UK’s Pensions Regulator. While no final decision has been made yet, Bloomberg says TVS has been in talks over a possible deal. Norton made its India debut in late 2017 and was retailed under the multi-brand network of Motoroyale from Kinetic Group.
TVS hasn’t made a decision on whether to formally bid for Norton or not and both brands declined to comment when Bloomberg approached them for queries. Under a joint venture, Norton Motorcycles debuted its retro-themed motorcycles like Commando 961 Sport, Commando 961 café racer, Dominator Sport and V4 RR sportsbike and along with Kinetic Group, it was even said to consider local assembly.
Norton and Motoroyale aimed to capture 10 to 14 per cent market share in the superbike market with annual sales target of 1,200 to 2,000 units but nothing really materialised. There were even talks of them expanding into ASEAN markets over a three year period.