Harley-Davidson confirmed to take over MV Agusta/Cagiva

PAR Uwe WachtendorfPosted on

Harley-Davidson announced today the signing of an agreement to purchase the Italian motorcycle maker MV Agusta Group. Under the agreement, Harley-Davidson will acquire 100 percent of MV Agusta shares for approximately 70 million Euros ($112 million CAD), which includes the payment of an existing bank debt for approximately 45 million euros ($72 million CAD).

The deal also provides for a contingent payment to Claudio Castiglioni (owner of 95% of MV Agusta shares) in 2016, if certain financial targets are met. The take-over is expected to close in a few weeks, pending the agreement of certain contingencies and receipt of regulatory approvals. Harley-Davidson intends to fund the transaction primarily through euro-denominated debt.

“Motorcycles are the heart, soul and passion of Harley-Davidson, Buell and MV Agusta,” said Harley-Davidson CEO Jim Ziemer. “Both have great products and close connections with incredibly devoted customers. The MV Agusta and Cagiva brands are well-known and highly regarded in Europe. They are synonymous with beautiful, premium, Italian performance motorcycles,” Ziemer said.

According to Ziemer, the acquisition is intended primarily to expand Harley-Davidson’s presence in Europe, complementing the Harley-Davidson and Buell motorcycle families. Retail sales of Harley-Davidson motorcycles have grown at a double-digit rate in Europe in each of the last three years, as the Company has increased its strategic focus on global markets. 

Harley-Davidson plans to continue to operate MV Agusta Group from its headquarters in Varese, Italy. The first priority will be to appoint a leadership team that will include a new Managing Director and to continue the manufacture of current models.

Current MV Agusta Chairman Claudio Castiglioni will continue in a leadership role in future product development. Design Chief Massimo Tamburini will continue his leadership of MV Agusta Group’s world leading sport-bike design studio.

RECENT ARTICLES



adidas Originals and Kawasaki Celebrate the Past, Present, and Future of ZX with Two Collaborative Sneakers


KTM unveils its new SIX DAYS models


SPORTRACKER 05 by Lord Drake Kustoms


“You see a bike”, MV Agusta documentary film now available on major streaming platforms


Husqvarna motorcycles unveils 2023 minicycle motocross range


New Harley-Davidson Nightster model starts a new chapter in the Sportster motorcycle story