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TVS Motor Company has just announced the successful acquisition of the iconic British motorcycle brand, Norton. TVS entered an all-cash deal of GBP 16 million, to acquire certain assets of Norton Motorcycles.
Norton Motorcycles was founded in 1898 in Birmingham, UK by James Lansdowne Norton. It is one of the most iconic motorcycles brands in the world, renowned for their wide range of offerings, varying from classic retro re-boots to modern contemporary superbikes.
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."
He 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."
The Hosur-based company also confirmed that the acquisition opens up the possibility of introducing new products from Norton's lineup in the Indian market. This includes models such as the Commando, Dominator and the V4RR, which are expected to go on sale in the country soon.
The company stated that Norton Motorcycles will leverage TVS Motors' supply chain capabilities. The acquisition also helps the British brand to use the global reach of TVS to enter new markets in the future.
Norton Motorcycles is already on sale in over 21 countries across the world, including the US and Europe. The company is expected to enter the Indian market sometime next year. Although most of Norton Motorcycles' are in the 800cc and above category, there are reports which suggest that TVS might introduce a 500cc motorcycle in the Indian market soon.
Thoughts On TVS Motors Acquiring Norton Motorcycles
TVS Motors is already in an agreement with BMW and has already introduced two products under the partnership. Now, with Norton Motorcycles under their belt, TVS Motors will be looking forward to capturing multiple segments of the two-wheeler market in India.