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Summary
- Pierer Mobility Group has acquired a majority stake in MV Agusta, with 50.1% ownership, while the Sardarov family retains 49.9%.
- Timur Sardarov steps down as CEO, replaced by Hubert Trunkenpolz, who plans to maintain MV Agusta as a premium brand.
- Pierer Mobility Group aims to increase production at MV Agusta’s Varese plant to 10,000 units annually with a new assembly line.
It’s official! After some spicy comments from both parties, Pierer Mobility Group (PMG; parent company of KTM) has officially acquired a majority stake in MV Agusta. The news comes just months after the two parties agreed upon a call option in November 2023. To jog your memory, the call option was supposed to kick in at the end of 2025, based on MV’s annual financial statements. Here’s what you need to know.
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Pierer Mobility Acquires 50.1 Percent Stake In MV Agusta
According to the press release, Pierer Mobility has bought another 25 percent stake in MV Agusta, following its previous 25 percent bought in 2022. This brings the total to 50.1 percent (majority), while the other 49.9 percent (minority) remains with the Sardarov family. Thanks to this, Timur Sardarov has stepped down from his Chief Executive Officer role at MV Agusta. He’ll now serve as the Vice-Chairman, brand ambassador, and consultant.
His place is taken by Hubert Trunkenpolz. He will head the Italian company as CEO and Chairman. In case you’re curious, Hubert’s uncle–Johann Trunkenpolz–was one of the founders of KTM (“T” in KTM stands for Trunkenpolz). Speaking on the matter, Sardarov said:
MV Agusta embodies passion and a unique sense of romance that captivated me, a seasoned entrepreneur, from day one. The personal challenge of guiding the company out of crisis and steering it towards success through innovative business strategies, team expansion, and new product developments has been conquered. It is an honor to play a role in shaping MV Agusta’s legacy. Over the past five years, both the company and I have evolved significantly. Our growth together is a testament to the transformative journey we’ve shared. My time with MV Agusta has been a pivotal chapter in my life, filled with mutual joys and challenges. As I continue to serve as a dedicated Vice-Chairman, I am committed to supporting the company and its ongoing success.
KTM Plans To Bump Production At MV Agusta’s Varese Plant
Aside from the management change, KTM has big plans for MV Agusta and already handles the distribution of MV bikes in several countries (North America, Japan, Australia, and Spain). Its next step is to boost overall production. An annual production of 10,000 units is on the charts for Agusta’s main plant in Varese, Italy. It’s thanks to a new fully automated assembly line spread across 28 workstations.
This follows the previous reassurance by Hubert last year. He suggested there were no plans to lay off employees, and instead, KTM wanted to increase the family and hire more people. The top honcho also said MV Agusta will be the most premium brand under the KTM umbrella. This indirectly hints MV won’t become Husqvarna 2.0 or GasGas 2.0.
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Timeline Of Pierer Mobility’s Takeover Of MV Agusta
- September 2022: KTM takes over MV Agusta distribution in America
- November 2022: PMG acquires 25.1 percent stake in MV Agusta
- October 2023: PMG and KTM agree upon a call option to be exercised at the end of 2025
- March 2024: PMG prematurely exercises the call option to acquire a 50.1 percent stake in MV Agusta
Source: Motorcycle.com, Pierer Mobility Group
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