Harley-Davidson finalizes purchase of MV Agusta
August 8, 2008
Filed under Features
Officially expanding its European presence, Harley-Davidson completed its purchase of the MV Agusta Group. Harley acquired 100 percent of the Italian motorcycle makers’ shares, equaling an estimated $108 million, which includes the satisfaction of existing bank debt for about $69 million, reported Harley-Davidson.
The acquisition aims to expand Harley-Davidson’s position in Europe, says Jim Ziemer, H-D’s CEO.
“We are thrilled to welcome the MV Agusta family of customers and employees into the Harley-Davidson family of premium motorcycle brands,” Ziemer said in the release. “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.”
H-D’s retail sales in Europe have increased double digits each of the past three years as the company has heightened its international focus.