Homegrown brand TVS Motor Company has completed its acquisition of Norton Motorcycles (U.K.) Limited. For the uninitiated, Norton is a reputed British motorcycle manufacturer which was founded back in 1898 by James Lansdowne Norton in Birmingham. The Norton marque was acquired by TVS in an all-cash deal GBP 16 million (Rs 154 crore, approximately). TVS Motor Company did so by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of TVS Motor’s overseas subsidiaries.
Sudarshan Venu, Joint Managing Director, TVS Motor Company commented on the acquisition, “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.”
TVS Motor Company officials state that they are excited about the existing and upcoming products at Norton Motorcycles which include the Commando, Dominator and V4 RR. Oh boy, and so are we! Like the Bajaj-Triumph tie-up, this too could bring some exciting times in the future, we certainly hope so! For now, let’s stay home and be safe.