The Motor Company has acquired 100% of MV Agusta Group shares for approximately 70 million euros (US$108 million) which includes the elimination of an existing 45 million euro (US$69 million) bank debt.
“We are thrilled to welcome the MV Agusta family of customers and employees into the Harley-Davidson family of premium motorcycle brands,” says Jim Ziemer, chief executive officer of Harley-Davidson, Inc. “Our primary focus with this acquisition is to grow our presence and enhance our position in Europe as a leader in fulfilling customers’ dreams, complementing the Harley-Davidson and Buell motorcycle families”
With MV Agusta and subsidiary Cagiva in its fold, the iconic American company further expands its presence in the European market where Harley-Davidson already claims a double-digit growth rate in sales over the last three years.
Harley-Davidson has appointed Matt Levatich as managing director of MV Agusta Group. Levatich had previously worked in various positions in Harley-Davidson’s sales and marketing team and was most recently vice president and general manager of parts and accessories and custom vehicle operations.