TVS MOTOR CO ACQUIRES NORTON FOR RM88 MILLION

TVS MOTOR CO ACQUIRES NORTON FOR RM88 MILLION

TVS Motor Company announced on Friday, the acquisition of the British’s most iconic sporting motorcycle ‘Norton’ in an all-cash deal, for £16 million,  (RM87,466,416.00) by acquiring certain assets of Norton Motorcycles (UK) (in administration since January 2020).

This would be among the most interesting acquisitions of a storied motorcycle maker and reflects TVS’ and India’s rapidly rising prominence in the global 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.

Since the 20th century, Norton has been renowned for its classic models and eclectic range of luxury motorcycles, ranging from the authentic retro classic reboots of the famous Commando to their contemporary 200 bhp, 1200cc V4 super-bikes.

Norton has been in some management issues, in the past, which now TVS has helped overcome.

Though there will be some concerns in the short term due to Covid-19, TVS Motor has enhanced its cost-reduction measures and cut down on capex. Given the nature of Norton, which is not a capex-heavy business, there seems no immediate concern. Manufacturing will continue in the existing facility, and customer orders and maintenance will be fulfilled effectively.

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