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Polaris In Talks With MV Agusta To Buy Controlling Stake
Polaris currently owns a controlling stake in both Indian Motorcycles, as well as in Victory Motorcycles. Now the American-based company plans to add another two-wheeler brand to its portfolio. They are already in talks with MV Agusta to purchase a controlling stake.
The discussion between Polaris and MV Agusta has been confirmed by Giovanni Castiglioni, President & CEO, MV Agusta. Italian two-wheeler manufacturer has been facing tough times for a while now. So far, a partnership or deal has not been confirmed between the duo.
Recently, Polaris had acquired Brammo's electric two-wheeler division. The inclusion of MV Agusta will broaden their portfolio and will provide them an entry into the performance and sport touring category.
MV Agusta registered impressive sales figures during 2015. Profits increased by 40 percent, while sales grew by 30 percent. In all MV Agusta sold 9,000 two-wheelers in 2015, the most it has ever done. In an attempt to lower expenses MV Agusta will cut down its annual production.
Current partners Mercedes-AMG and MV Agusta's relationship is struggling. MV Agusta plans to purchase shares back from Mercedes-AMG. Previously 25 percent of the shares were purchased in 2014 for 67 million Euros.
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