TVS Motor Company is one of the largest and most reputed two-wheeler and three-wheeler manufacturer in the world. The Madras-based home-grown manufacturer has just announced that they have finally acquired Britain's Most Iconic Sporting Motorcycle Brand - Norton Motorcycles. The UK-based Norton Motorcycles is one of the most iconic Britsh two-wheeler manufacturers since the 20th century and is globally known for its performance, classic and luxury motorcycles.
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In recent times, TVS was in talks with Norton Motorcycles to bring-in it and now the Indian manufacturer has officially announced that TVS Motor Company has acquired Norton Motorcycles in an all-cash deal for a consideration of (Great Britain Pound) GBP 16 Million (INR 153.16 Crores) by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of TVS Motor's overseas subsidiaries. TVS believes that this will be one of the most interesting acquisitions of a storied motorcycle maker in recent times and will reflect TVS Motor Company's and India's rapidly rising prominence in the International two-wheeler market.
TVS also asserted that it is confident of the strong synergy between both the brands. Through this deal, Norton will utilise TVS global reach and supply chain capabilities and will now be able to enter more and more new markets. TVS also stated that Norton will continue to retain its identity with dedicated business plans while TVS will work with its customers and employees to grow the brand.
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."
Mr. 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."
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This is a historic alliance of an Indian two-wheeler giant and a British Iconic Motoring brand. Prior to this, TVS has also collaborated with the German gargantuan, BMW Motorrad in 2013 and has been making motorcycles with them since 2018. The first set of motorcycles under this alliance were the TVS Apache RR 310, BMW G310 R, and the BMW G310 GS. In other news, the BS6-compliant BMW G310 twins will get a heavy price-drop and to know more about it, click here.
