So there were talks about many companies showing interest in procuring Norton Motorcycles as the iconic British brand was having some tough financial times. Well, there won’t be more talks on this matter because India’s TVS Motor Company has acquired Norton Motorcycles in an all-cash deal of AED 73.5 million!
Norton Motorcycles was previously owned by Stuart Garner, an entrepreneur, who bought the company in 2008. During his ownership, Norton created bikes such as the Dominator and Commando. Unfortunately, the company faced a financial crisis and failed to pay high amounts of taxes. Consequently, it was put under the administration in January 2020.
Once Norton Motorcycles was put into administration, many prospective buyers emerged. However, it was India’s TVS Motor Company that successfully managed to acquire the British motorcycle company by purchasing certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of its overseas subsidiaries.
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.”
“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 added.
TVS Motor Company, which is one of the leading two-wheeler brands in India, had a joint venture with BMW years ago. The TVS Apache RR 310, BMW G310R and G310GS are the three bikes that have been developed so far under this partnership. Now, with the acquisition of Norton Motorcycles, TVS Motor Company would come up with new and exciting products as it will be able to utilise Norton’s expertise in making higher capacity motorcycles. Similarly, Norton Motorcycles will now be able to leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets.