<p>Two-wheeler major TVS Motor Company on Friday night announced the successful acquisition of Britain’s iconic sporting motorcycle, “Norton”, in an all-cash deal for consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration).</p>.<p>The deal has been done through one of TVS Motor’s overseas subsidiaries and the acquisition reflects TVS Motor Company’s and India’s rapidly rising prominence in the international two-wheeler market.</p>.<p>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.</p>.<p>“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.</p>.<p>“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 said in a statement.</p>.<p>He added that Norton will continue to retain its distinctive identity with dedicated and specific business plans. The company said it believes Norton Motorcycles can leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets.</p>
<p>Two-wheeler major TVS Motor Company on Friday night announced the successful acquisition of Britain’s iconic sporting motorcycle, “Norton”, in an all-cash deal for consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.) Limited (in administration).</p>.<p>The deal has been done through one of TVS Motor’s overseas subsidiaries and the acquisition reflects TVS Motor Company’s and India’s rapidly rising prominence in the international two-wheeler market.</p>.<p>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.</p>.<p>“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.</p>.<p>“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 said in a statement.</p>.<p>He added that Norton will continue to retain its distinctive identity with dedicated and specific business plans. The company said it believes Norton Motorcycles can leverage TVS Motor Company’s global reach and supply chain capabilities to expand to new markets.</p>
