TVS Motor acquires iconic British motorcycle manufacturing company Norton for £16 million in all-cash deal

TVS Motor Company acquired Britain’s most iconic bike manufacturer Norton Motorcycles Ltd in an all-cash transaction of GBP 16 million on Friday."The acquisition of assets of Norton Motorcycles (UK) Limited was done through one of the TVS Motor's overseas subsidiaries," the company said in a regulatory filing on Friday evening.[caption id="attachment_4211397" align="alignleft" width="300"]

Norton Commando 961 Cafe Racer. Image credit: Norton[/caption]TVS said the transaction was concluded by Project 303 Bidco Limited, a newly incorporated company that was acquired by TVS Motor's subsidiary to make the Norton deal."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," TVS Motor’s Joint Managing Director Sudarshan Venu said.He said that the TVS Motor will provide its complete support to Norton to regain its full glory in the international motorcycle landscape."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," Venu added.Norton Motorcycles was founded in 1898 in Birmingham by James Lansdowne Norton. It is famous for its 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.