Norton acquired by Indian firm TVS Motor Company
Famous British company, Norton Motorcycles, has been bought by Indian firm TVS Motor CompanyNorton Motorcycles has been given a lifeline, with Indian firm TVS Motor Company acquiring the famous British manufacturer for a reported £16 million.
Norton went into administration on January 29 following significant financial problems.
The Leicestershire-based company was founded in 1898 and has a storied, yet turbulent history, having changed hands multiple times. After a hiatus, it was relaunched in 2008 by UK entrepreneur Stuart Garner, but a large tax debt and serious money issues left the company hanging by a thread, allowing TVS to swoop in.
Joint Managing Director of TVS Motor Company, Mr. Sudarshan Venu was enthusiastic about purchase of Norton Motorcycles. “This is a momentous time for us at TVS,” he said. “Norton is an iconic British brand, and presents us with an immense opportunity to scale globally.”
Mr. Venu also assured that “Norton will continue to retain its distinctive identity with specific and dedicated business plans.”
TVS Motor Company is based in Chennai and is one of the largest motorcycle companies in India. It was founded in 1978. It has collaborated with Suzuki in the past, and currently manufactures the BMW G310R. It is also the title sponsor of the Sherco TVS Rally Factory team.
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