TVS Motor Company has successfully acquired Britain’s iconic “Norton Motorcycles” via a cash deal of 16 million GBP (Rs 153 Crore) and has acquired some assets of Norton Motorcycles, for making this deal happen, a new company was formed named Project 303 Bidco Ltd and later it was acquired by TVS Motor’s Singapore subsidiary for 1 GBP.
Norton Motorcycles was founded in 1898 by James Lansdowne Norton in Birmingham and it was the most popular motorcycle brands of all time in Britain, the brand is known for it’s classic and retro-styled range of motorcycles. TVS plans on keeping the Norton legacy alive with exclusive business plans for it.
Commenting on the acquisition, Mr. 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. Sudarshan 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.”
We here at TorqueXpert are very excited to see this happen, we are waiting for what TVS can offer with Norton Motorcycles!
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