TVS two wheelers have announced that the company has in a remarkable deal acquired British motorcycle maker Norton motorcycles. The two wheeler giant inked the deal for a full cash deposit of Rs 153 crore.
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.”
This deal was turned into reality by TVS acquiring certain assets of Norton motorcycles U.K. This deal is said to be on the most remarkable ones in history and will reflect on TVS Motor Company’s and India’s rapidly rising prominence in the two wheeler market.
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.”
For now neither TVS motor company nor Norton motorcycles U.K have announced future plans and what new models will come into the market. However Norton motorcycles having a wide offering in various segments could spell doom for many rival two wheeler manufacturers including Royal Enfield and their 650cc models.
Mr. Sudarshan Venu, Joint Managing Director, TVS Motor Company
This announcement has also evoked a lot of excitement in TVS’s stable in regards to existing and upcoming products at Norton motorcycles. Products such as the Commando, Dominator and V4 RR are some of the models adding to the adrenaline rush with the company.
Confidence is also strong between both the brands with Norton motorcycles believing it will be able to leverage TVS’s global reach and wide supply chain capabilities to expand to new markets.
We wish TVS motor company and Norton motorcycles all the best in this deal and hope the best positive outcome of both brands in the times to come. Let us know what you think about this deal in the comments section below.