TVS acquires UK-based Norton Motorcycles for Rs 153 crore
- TVS Motor Company has officially acquired Norton Motorcycles – an iconic British motorcycle brand – in an all-cash deal of Rs 153 crore.
- Founded in 1898, Notron went into deep financial troubles last year. Stuart Garner, the company’s previous owner, is reportedly also under investigation in the UK for a number of frauds.
- In India, Norton formed a JV with Kinetic Motoroyale in 2017 and started selling its bikes a year later in the country via the latter’s multi-brand dealerships. Being premium offerings, Norton bikes retail for a price of over Rs 20 lakh in India.
- In fact, Norton revealed its 650 cc Altlas series last year, and it has made a deal with Kinetic Motoroyale to locally manufacture these bike in India for Asian markets. With TVS’ take over of the company, things will definitely change now.
- It’s worth noting that TVS is also in a strategic partnership with BMW Motorrad which has spawned bikes like the Apache RR 310, G 310 R and G 310 GS. It remains to be seen how this partnership is affected by Norton’s acquisition.