In a statement to the stock markets, Mahindra & Mahindra Ltd says, "CLPL, a subsidiary of the Company, has on October 21, 2016 acquired 100% of the share capital of BSA Company Limited." Classic Legends Pvt Ltd. (CLPL) is an arm of the Indian brand, and purchased all 1.2 lakh shares of BSA at a consideration of 28.33 Pounds per share.
Mahindra further added that this acquisition will enable Classic Legends to acquire or obtain license of the BSA brand and utilise the same for selling marketing, distributing motorcycles globally. The principal activity of BSA is licensing of brands related to motorcycles. Incorporated in the UK, the company has also presence in Japan, Singapore, Malaysia, USA, Mexico and Canada.
Last year, Mahindra bought a 51 per cent stake in Peugeot Motocycles (PMTC), a part of the euro 54 billion France-based PSA Group. The company is yet to reveal complete details of what it plans to exactly do with the iconic two wheeler brand.
Over the years, Mahindra has been on acquisition spree and has quite a few auto brands under its umbrella. Last year, the automaker acquired a 76.06 per cent controlling stake in Pininfarina for $28 million, under its arm Tech Mahindra; while the company previously acquired South Korean automaker SsangYong. Two-wheeler brand SYM was bought by the manufacturer from Kinetic to start Mahindra Two Wheelers and the acquisition of Reva Electric Car Company has fueled the Mahindra Electric venture.
