Classic Legends Pvt Ltd. (CLPL), a subsidiary of Indian automotive major Mahindra and Mahindra Ltd, has acquired 100% stakes of legendary British two-wheeler brand, Birmingham Small Arms Company (BSA). Mahindra and Mahindra’s subsidiary purchased 120,000 shares of BSA at 28.33 Pounds per share. In a statement to the stock markets, Mahindra & Mahindra said, “CLPL, a subsidiary of the Company, has on October 21, 2016 acquired 100% of the share capital of BSA Company Limited.”
The news does not come as a major surprise as Mahindra and Mahindra, as reported earlier, was looking to acquire more foreign two-wheeler brands and had its eyes on BSA and Norton. With this acquisition, CLPL now has the license to brand and utilise BSA for marketing, distributing of motorcycles. The British marque is currently present in markets such as Japan, Canada, Mexico, Malaysia and Singapore and had reported a turnover of £28,233 (INR 23.07 lakh) in FY2015-16.
Apart from BSA, Mahindra and Mahindra also has a majority stake in French two-wheeler company Peugeot Motocycles. Back in 2015, Mahindra had purchased 51 percent stake in the France-based PSA Group. The Indian conglomerate also has majority stakes in SsangYong, Pininfarina and Reva Electric Car Company.