In a recent development Indian auto major Mahindra and Mahindra has acquired British two wheeler manufacturer BSA motorcycles for Rs. 28 crore. Mahindra was thinking between bike brands Norton and BSA, yet appears need to settled for the last mentioned.
Mahindra further added that this acquisition of BSA motorcycles will help Classic Legends obtain license of the BSA brand and will let utilise the same for selling, promotion and distributing motorcycles globally. The principal activity of BSA is licensing of brands related to motorcycles. Incorporated in the UK, the company is also present in countries like Japan, Singapore, Malaysia, USA, Mexico and Canada.
Last year Mahindra acquired a 51 percent stake in the french Peugeot Motocycles (PMTC), which is the part of PSA Group. Mahindra and Mahindra is yet to say anything about its plans regarding the iconic french two wheeler brand. Previously the Indian company acquired South Korean car brand SsangYong and Indian two-wheeler brand SYM. Mahindra bought the SYM brand from Kinetic which helped it to start Mahindra Two Wheelers. The acquisition of Reva Electric Car Company has helped the company to start Mahindra Electric venture and launch the all electric vehicle e2o.
In a official statement released by Mahindra and Mahindra, the company said, its subsidiary Classic Legends Pvt. Ltd. (CLPL) has acquired 100 percent of the share capital of the BSA Company limited on 21st October 2016. The subsidiary has purchased all 1.2 lakh shares of the British company at the price of Rs 2,611.46 per share.