TVS Motor Company has bought Britain’s Norton motorcycles for £16 million (Rs 153 crore) in an all-cash deal, which was finalised late Friday evening
TVS Motors has acquired the iconic Norton motorcycle brand in an all-cash deal worth £16 million or Rs 153 Crore. TVS used its subsidiary based out of Singapore to close the deal and has purchased all the assets Norton has based in the UK. The entire proceedings for this deal was overseen by Rothschild and Co, who acted as financial advisors, whereas the legal advisers for the deal was handled by Khaitan & Co, and Slaughter and May.
The British motorcycle brand Norton was founded by James Lando Norton in Birmingham in the year 1898, and has remained one of Britain’s most popular motorcycle brands and is renowned for the retro Art Deco designed motorcycles. At evo India we have had some experience with the Norton and you can see this mean machine in action down below.
Commenting on the acquisition, 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,” adding that 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,” he concluded.
TVS Motors are quite excited about bringing the notable brand into its product portfolio and hopes to leverage its global supply chain knowhow to make Norton motorcycles even more popular and expand into new markets. Norton as a company has had quite a troubled past with it recently filing for bankruptcy in the UK due to its cash flow problems. TVS say there is a strong synergy between the brands and looks forward to taking this British brand to new heights.