Chennai-based TVS Motor Company has announced to have acquired Britain’s Norton Motorcycles in a £16 million all-cash deal. The acquisition was done through one of TVS Motor’s overseas subsidiaries.
Founded in 1898 by James Lansdowne Norton, in Birmingham, Norton Motorcycles is among the iconic British motorcycle brands. Norton was introduced in India in 2018 by Kinetic Group under its ‘Motoroyale’ sub-brand.
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, Joint Managing Director, TVS Motor Company
TVS said that Norton can leverage the 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, and legal advice for the transaction was provided by Khaitan & Co, and Slaughter and May.
It’s worth mentioning that TVS has acquired only certain assets of Norton Motorcycles (UK) Ltd, meaning, the Donington Hall might not be the part of the deal.
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