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TVS Motor Company on Friday announced successful acquisition of Britain’s iconic sporting motorcycle Norton, in an all-cash deal for a consideration of GBP16 million.
It acquired certain assets of Norton Motorcycles (UK) Limited (in administration) through one of TVS Motor’s overseas subsidiaries.
Founded by James Lansdowne Norton, in Birmingham, in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time and is one of the most emotive marques today.
Since the 20th century, Norton Motorcycles is known for their classic models and eclectic range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to their contemporary 200 bhp, 1200cc V4 super-bikes.
“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.”
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.”
