TVS Motor Company Will Make Norton Brand Of Motorcycles
TVS Motor Company announced acquisition of Norton Motorcycles of Britain in an all-cash deal of GBP 16 million. TVS divulged the details of the acquisition in a statement. It said that TVS was acquiring certain assets of Norton Motorcycles (UK) Limited through one of TVS Motor’s overseas subsidiaries.
Press statement of TVS Motor Company
Sudarshan Venu, Joint Managing Director, TVS Motor Company said that that was a momentous time for them at the company. Norton was an iconic British brand celebrated across the world and it presented TVS an immense opportunity to scale globally. He further said that the transaction was in line with their effort to cater to aspirations of discerning motorcycle customers.
Mr. Venu assured that Norton would continue to retain its distinctive identity with dedicated and specific business plans. TVS Motor would work closely with customers and employees in building the success and pre-eminence of the Norton Motorcycles brand. Also, he added that the company looked forward to growing together globally in the coming years.
The statement further reads that TVS Motor Company was exited about the existing and upcoming models of Norton Motorcycles. These include Commando, Dominator and V4 RR. It also said that Norton Motorcycles would help TVS Motor Company in expanding its reach to global markets.
Collaborations of TVS Motor Company
It has collaboration with BMW Motorrad under which it makes BMW G 310 R and BMW G 310 GS motorcycles at its manufacturing unit in southern India. Also, TVS is a big brand and it makes motorcycles like TVS Apache RR 310.