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Harley-Davidson Finalizes Sale of MV Agusta

Friday, August 6, 2010
Updated styling highlights the 990R Brutale.
Harley-Davidson announced today that it has sold MV Agusta back to its former owner, Claudio Castiglioni for an undisclosed sum.
American motorcycle manufacturer Harley-Davidson announced today that it has completed the sale of MV Agusta for an undisclosed amount to Claudio Castiglioni and his wholly owned holding company, MV Agusta Motor Holding, S.r.l.

Just two years ago Harley acquired the legendary Italian marque purchasing from Castiglioni at a price of $109 million. The acquisition was made as part of Harley’s original plan to expand its presence in Europe and to complement both the Harley-Davidson and now defunct Buell Motorcycle brands.
 
The scheme failed and Harley stated that it would be attempting to sell MV last October as part of a new business strategy to focus resources on its core Harley-Davidson product. At that time Harley also announced that it would be permanently shutting down its Buell Motorcycle subsidiary.
 
In the end the person laughing straight to the bank is Castiglioni as he certainly paid far less for the company then he had sold it for in 2008.
 
“MV Agusta is a proud brand and we wish Mr. Castiglioni and the company’s employees well,” said Harley-Davidson President and Chief Executive Officer Keith Wandell. “Our decision to divest MV Agusta reflects our strategy to focus our efforts and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to long-term growth.”
 
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Comments
Patrick -1 euro...  August 8, 2010 06:35 AM
If you read around it is rumored that they sold the company for a single symbolic euro. I admit I'm not a hardcore businessman, but it seems to be a loosing proposition to invest in excess of 109 million (purchase + upgrading production line) and give it away for free!
Gino C. -WTF  August 7, 2010 04:05 PM
The question now is in a few years from now when Harley is for sale who will buy them? Harley buys MV does nothing with the brand, except put some taint on it, sells the brand most likely for far less than they paid for it and kills off Buell. Are the same people that are running the Federal Government running Harley or is it vice versa?
snail -HD BS!  August 7, 2010 10:03 AM
For the life of me couldn't understand why they didn't sell Buell. Have to agree with everybody opinion here, they should have save Buell. Just wait, Eric Buell will be back....
irksome -shame  August 6, 2010 04:29 PM
Pity they couldn't do the same for Buell; find someone to invest in a truly American, up by your bootstraps, inventive company. Guess they were afraid of the competition. HD is a bloated, out-dated monstrosity, just like their bikes. Shame on them.
Jim R. -America needs to invest in America First..  August 6, 2010 12:41 PM
Having owned a 2004 Buell XB12S and currently own a 2008 HD FXD motorcycle, to which both are well made products.. Harley should have invested that 109 million in the Buell line of motorcycles. America needs to invest in America First, before ever going overseas.
Nathan -Huh?  August 6, 2010 11:29 AM
Harley wanted to expand it's "presents" in Europe? Were they giving motorcycles away for free?! On a side note, it's nice that MV is back where they belong.