Harley-Davidson buys MV Agusta for $109 Million
What a long, strange trip it's been: MV Agusta Owned by Harley-Davidson...
Harley Buys MV Agusta
So it looks like it's official - Harley-Davidson announced that they are acquiring MV Agusta.
In a move to gain access to a broader, growing customer base in Europe and the U.S., motorcycle maker Harley-Davidson Inc. agreed to purchase MV Agusta Group, an Italian motorcycle company, for about $109 million.
According to an official press release, the purchase is expected to close in several weeks, pending satisfaction of contingencies and regulatory approvals.
Harley-Davidson plans to operate the MV Agusta Group from its current headquarters in Varese, Italy. Chairman Claudio Castiglioni will continue as Chairman and have a major role in future product development. Design Chief Massimo Tamburini will continue to lead the MV Agusta Group sport-bike design studio.
This may be a good move for Harley-Davidson -- expanding their business and diversifying at the same time. But it raises some immediate questions: What is to become of Buell? Will that brand survive? Will H-D try to sell MV Agusta bikes at the local H-D dealership?
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