TVS Motor Company has bought legendary British motorcycle manufacturer, Norton Motorcycles.
Reportedly, in an “all-cash deal” of 16 million GBP, Norton Motorcycles assets were acquired through one of TVS Motor’s overseas subsidiaries.
Commenting on the acquisition, Sudarshan Venu, Joint Managing Director, TVS Motor Company said, “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. 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.”
Venu further added, “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.”
This new acquisition is definitely good news for Indians. We can now expect a good deal of Norton Motorcycle models heading to our shores.