TVS Motor Company completes acquisition of Norton

Automotive Press Releases Monday April 20, 2020 12:50
SINGAPORE--20 Apr--PRNewswire/InfoQuest

TVS Motor Company, a reputed manufacturer of two-wheelers and three- wheelers in the world, yesterday announced the successful acquisition of Britain's most iconic sporting motorcycle, "Norton", in an all-cash deal for a consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration) through one of TVS Motor's overseas subsidiaries. This will be one of the most interesting acquisitions of a storied motorcycle maker in recent times and will reflect TVS Motor Company's and India's rapidly rising prominence in the international two-wheeler market.

Founded by James Lansdowne Norton, in Birmingham, in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time and is one of the most emotive marques today. Since the 20th century, Norton Motorcycles is renowned for their classic models and eclectic range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to their   contemporary 200 bhp, 1200cc V4 super-bikes.

Commenting on the acquisition, Mr. 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."

Mr. Sudarshan Venu further added, "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."

TVS Motor Company is excited about the existing and upcoming products at Norton Motorcycles   including Commando, Dominator and V4 RR. Confident of the   strong   synergy   between   both   the   brands, we believe that Norton Motorcycles can leverage TVS Motor 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.
About TVS Motor Company

TVS Motor Company is a reputed two and three-wheeler manufacturer and is the flagship company of the USD 8.5 billion TVS Group. We believe in Championing Progress through Mobility. Rooted in our 100- year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and   sustainable   processes. We endeavour to deliver the most superior customer experience at all our touch   points across 60 countries. We are   the   only   two-wheeler   company   to   have   received   the   prestigious   Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys for five years. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. For more information, please visit www.tvsmotor.com.

TVS Motor Company Limited, P.B. No. 4, Harita, Hosur – 635 109, Tamil Nadu, India.Tel: +91(4344) 276780
Website: www.tvsmotor.com Email: corporate@tvsmotor.com CIN: L35921TN1992PLC022845
Regd Off: Chaitanya, No. 12, Khader Nawaz Khan Road, Nungambakkam, Chennai – 600 006
Logo - https://photos.prnasia.com/prnh/20200420/2780795-1LOGO

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