TVS acquires Norton

•  TVS Motor Company has announced this Friday that it has acquired the popular British multinational sporting motorcycle brand “Norton”.

•  TVS has successfully acquired Norton by an all-cash deal of £16 million (₹153 crore).

• Stuart Gardner who is the current CEO of Norton is being investigated for pension fraud as the investigators has accused him for conning.

• Sudarshan Venu, the Joint Managing Director of TVS Motor Company has said that TVS has not taken any past liabilities or responsibilities for that.

•  Norton is an iconic British brand across the world and it has given TVS Motor Company immense opportunity to scale globally.

TVS Motor Company is a popular South-India based Indian multinational motorcycle manufacturing company which has announced this Friday that it has acquired the popular British multinational sporting motorcycle brand “Norton”. Norton is the most iconic motorcycle manufacturer from Great Britain and TVS has successfully acquired it by an all-cash deal of £16 million (₹153 crore). A great news and big celebration from TVS as it represents the rapid growth and rising of the company in the global two-wheeler market.

Through this deal TVS has acquired certain assets of Norton Motorcycle (UK) (in administration) through one of its overseas subsidiaries. TVS will focus on markets which Norton has already developed, the company has strong relationship with BMW which will continue to go on. James Lansdowne Norton has founded the Norton company in Birmingham in 1898, Stuart Gardner who is the current CEO of Norton and also the trustee if three pension schemes of Norton as per the UK regulators is being investigated for pension fraud as the investigators has accused him for conning, by promising them tax-free income but that didn’t come out for result. Sudarshan Venu, the Joint Managing Director of TVS Motor Company has said that Nortonn has rough time for last few years and TVS has not taken any past liabilities or responsibilities for that.

Mr. Sudarshan Venu has said that it is a momentous time for TVS Motor Company as Norton is an iconic British brand across the world and it has given immense opportunity to scale globally, he also said that Norton will continue to retain its distinctive identity with specific business plans and TVS will work closely with customers and employees in building success of Norton Motorcycles and looking forward to grow together globally in the coming years. TVS has not yet revealed the future plans with Norton but surely it is a beneficial deal for TVS to grow globally and expand to new markets.