TVS Motor acquires UK-based Norton Motorcycles
TVS Motor has acquired UK-based iconic bike manufacturer Norton Motorcycles for GBP 16 million (around Rs 153 crore).
The company has acquired Britain's most iconic sporting motorcycle brand Norton in an all-cash deal for a consideration of GBP 16 million by acquiring certain assets of Norton Motorcycles (UK) through one of its overseas subsidiaries, TVS Motor Company said in a statement.
Founded by James Lansdowne Norton in Birmingham in 1898, Norton Motorcycles is among the most popular British motorcycle brands of all time.
Norton Motorcycles is known for its classic models and range of luxury motorcycles ranging from authentic retro classic reboots of the famous Commando to its contemporary 200 bhp, 1200cc V4 superbikes.
"This is a momentous time for us at TVS Motor Company...