India's renowned vehicle manufacturer TVS Motor Company has announced that it has acquired the British brand Norton Motorcycles. TVS said in a statement that the company had acquired some of the assets of Norton Motorcycles (UK) Limited through overseas subsidiaries of TVS Motor for all-cash deals to Norton Motorcycle for GBP 16 million (approximately Rs 153 crore in existing exchange rates). I have acquired The TVS statement said that it would be one of the most interesting acquisitions of the historic motorcycle brand in recent times and would reflect India's rapidly growing prominence in TVS Motor Company and the international two-wheeler market.
Sudarshan Venu, Joint Managing Director of TVS Motor Company commented on this acquisition, "This is an important time for us at TVS Motor Company. Norton is a reputed British brand known worldwide. And provides us with the opportunity on a large scale globally. This transaction is our way of fulfilling the aspirations of discerning motorcycle customers. Confidence is consistent. We will give our full support to Norton to achieve their full glory in the international motorcycle scene. "
"Norton will continue to maintain its distinct identity with dedicated and distinct business plans. TVS Motor will work closely with customers and employees in the success and pre-construction of the Norton motorcycle brand and we will be working in the coming years." I hope to move forward together globally. "