KTM AG acquires controlling stake in MV Agusta, plans expansion and leadership transition
In a strategic move, KTM AG has acquired a 50.1 per cent stake in MV Agusta Motor S.p.A., the iconic Italian motorcycle manufacturer based in Varese. This acquisition marks a significant shift in control and is yet another example of Pierer Mobility's broadening brand presence and market position.
The groundwork for this acquisition began in November 2022 when KTM AG initially acquired a 25.1 per cent stake in MV Agusta as part of a capital increase. Following this investment, KTM AG assumed responsibility for MV Agusta's supply chain and distribution network, laying the foundation for a deeper partnership between the two companies. Anticipating the potential for growth and synergy, the group has exercised its option to acquire a majority stake in MV Agusta ahead of schedule, which was previously set for 2025. This move underscores Pierer Mobility's confidence in MV Agusta's future prospects and its strategic vision for the brand.
With the acquisition finalised, KTM AG will now assume industrial management responsibilities for MV Agusta. Leveraging its expertise in motorcycle manufacturing, KTM AG aims to optimise production processes and enhance quality control measures to drive MV Agusta's growth trajectory. A key aspect of Pierer Mobility's strategy involves ramping up MV Agusta's production capacity at its Varese factory. Plans are also to increase annual production to over 10,000 units.
Alongside changes in ownership and management, MV Agusta is also undergoing a leadership transition. Hubert Trunkenpolz, a board member from Pierer Mobility AG, has been appointed MV Agusta's new CEO. Former MV Agusta CEO, Timur Sardarov, will transition to Vice Chairman, brand ambassador, and consultant, ensuring continuity and preserving the brand's legacy amidst the leadership change.
Furthermore, the acquisition holds significance beyond the European motorcycle market, with implications for Bajaj Auto. Bajaj Auto holds a 49.9 per cent stake in PTW Holding AG, Pierer Mobility's parent company, positioning it to benefit indirectly from the success of MV Agusta under Pierer Mobility's stewardship. This opens up possibilities for future collaborations between Bajaj Auto and MV Agusta, particularly in the Indian motorcycle market.
