TVS Motor Company has completed the acquisition of
Norton Motorcycle in a
£ 16 million all-cash deal.
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| At current exchange rates, this deal is about Rs 153 crore. |
TVS Motor Company, one of the leading two-wheeler manufacturers in India, has bought the 120-year-old British motorcycle brand
Norton.
TVS has said in a statement that it has acquired Norton Motorcycle in a
£ 16 million all-cash deal by acquiring certain assets of
Norton Motorcycle (UK) Limited through one of its subsidiaries.
At current exchange rates, this amounts to about
Rs 153 crore. The
TVS statement said it would be one of the most exciting acquisitions of the motorcycle brand seen in recent times and would reflect India's rapidly growing prominence in
TVS Motor Company and the international two-wheeler market.
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| TVS is India's third-largest two-wheeler company and also exports extensively. |
Commenting on the acquisition,
TVS Motor Company joint MD Sudarshan Venu said, "This is a special time for us at
TVS Motor Company.
Norton is a reputed British brand globally, and we have grown globally. This opportunity is in line with our effort to fulfill the aspirations of our motorcycle customers. We at
Norton International Motorcycles will give full support to achieve their distinction in the world. "
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| TVS buys British motorcycle company, Norton |
TVS Motor Company also said that it is excited about the current and upcoming bikes of
Norton Motorcycle, which include Commando, Dominator, and V4RR. The statement further noted that
Norton Motorcycles can take advantage of
TVS Motor Company's colossal reach and capabilities to expand to new markets.
TVS also collaborates with
BMW Motorrad, under which the
BMW G310R and BMW G310 GS are manufactured at TVS 'plants in South India.
TVS also has its own motorcycle,
Apache RR 310, built on this platform.
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| TVS has said that it is excited about the current and upcoming bikes of Norton like Dominator. |
Norton Motorcycles was started in 1898 in Birmingham, the UK, by James Lansdowne Norton. Apart from
Triumph,
BSA and
Royal Enfield, Norton is one of the most popular British motorcycle brands of all time.
Royal Enfield has now become an Indian company.
Norton has sold several times in recent decades, the last time a British businessman Stuart Garner bought it from an American owner in 2008.
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