TVS Motors acquires NortonApril 17, 2020
TVS Motor Company announced the successful acquisition of Britain’s most iconic sporting motorcycle, “Norton”. TVS Motors acquires Norton in an all-cash deal for a consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited. Thus carried out (in administration) through one of TVS Motor’s overseas subsidiaries. Thereby making this one of the most interesting acquisitions of a storied motorcycle maker in recent times. And, it will reflect TVS Motor Company’s and India’s rapidly rising prominence in the international 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.” 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.”
Having said that, TVS Motor Company is excited about the existing and upcoming products.
At this point of time the Norton Motorcycles arsenal includes:
- Atlas Ranger
- Breitling Sport Limited Edition
- Dominator Street
- V4 RR
TVS Motors acquires Norton – Acquisition mediators
Confident of the strong synergy between both the brands, they believe that Norton Motorcycles can leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets. The acquisition was undertaken under the guidance of financial advisors, Rothschild and Co. Additionally, the legal advice for the transaction was provided by Khaitan & Co, and Slaughter and May.
About TVS Motor Company
TVS Motor Company is a reputed two and three-wheeler manufacturer.They are the flagship company of the USD 8.5 billion TVS Group. They believe in Championing Progress through Mobility. TVS is rooted in their 100-year legacy of Trust, Value, and Passion for Customers and Exactness. TVS takes pride in making internationally aspirational products of the highest quality through innovative and sustainable processes.
They endeavour to deliver the most superior customer experience at all their touch points across 60 countries. They are the only two-wheeler company to have received the prestigious Deming Prize. TVS’s products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years. Also, they have ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years.
For more information, please visit www.tvsmotor.com
About Norton Motorcycles
Founded by James Lansdowne Norton, in Birmingham, in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time. It is one of the most emotive marques today. Thus, since the 20th century, Norton Motorcycles is renowned for:
- Their classic models and eclectic range of luxury motorcycles
- The authentic retro classic reboots of the famous Commando
- Their contemporary 200 bhp, 1200cc V4 super-bikes
Norton’s Historic Race History
NORTON, THE RECORD BREAKER
In September 2009, Norton CEO, Stuart Garner set a World Record for a rotary powered motorcycle. He topped the bike out at an amazing result of 173mph for a timed mile. After that, a top speed in excess of 180mph on a Norton NRV588.