India’s one of the most popular automobile maker TVS Motor Company Ltd on Friday said it has acquired British sporting motorcycle Norton Motorcycles Holdings for 16 million pounds (approx 153 crore).
James Lansdowne Norton founded the most popular British motorcycle brand till the date, ‘Norton Motorcycles’, in 1898 in Birmingham.
The British motorcycle company is known for its classic models and eclectic range of luxury motorcycles that includes the company’s popular Commando to the 1200ccV4 superbikes.
“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,” Joint Managing Director Sudarshan Venu said, said.
“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,” he added.
In a statement, TVS Motor said the acquisition was made through one of the company’s overseas subsidiaries.