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.
"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."