Harley acquires Italian motorcycle manufacturer

Subscribe to BizTimes Daily – Local news about the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin.

Harley-Davidson, Inc. will acquire MV Agusta Group, an Italian motorcycle manufacturer for about $109 million plus payment of about $70 million of the company’s debt, Harley officials announced this morning. The transaction is expected to close in several weeks.

MV Agusta makes a line of high-performance sport motorcycles and a line of lightweight cycles under the Cagiva brand. It sells cycles through about 500 dealers, primarily in Europe. Last year, the company shipped about 5,800 motorcycles. Due to financial hardship, the company has significantly slowed production this year.

Harley will continue to operate MV Agusta from its Italian headquarters. MV Agusta’s chairman Claudio Castiglioni will continue to lead the company and will assist in future product development. The acquisition will help expand Harley’s European presence, said Harley-Davidson, Inc. Chief Executive Officer Jim Ziemer.

- Advertisement -

"Motorcycles are the heart, soul and passion of Harley-Davidson, Buell and MV Agusta," he said. "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."

What's New

BizPeople

Sponsored Content

Summer flash sale! Unlock all of BizTimes for just $7 / month

Limited time offer. New subscribers only.

Close the CTA

Holiday flash sale!

Limited time offer. New subscribers only.

Subscribe to BizTimes Milwaukee and save 40%

Holiday flash sale! Subscribe to BizTimes and save 40%!

Limited time offer. New subscribers only.