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PIERER PICKS UP MORE MV AGUSTA CONTROL

  • Dealernews
  • Jun 12, 2024

 

In a curiously worded announcement earlier this year, Pierer Mobility exercised its option to acquire majority stake in MV Agusta Motor S.p.A. “Increasing ownership to 50.1% has been exercised 'prematurely'” — Premature or not, Pierer put in new leadership for the venerated brand from Varese with the immediate benefits of site expansion and increased production capacity… and the launch of the first U.S. Flagship Dealer. The deal actually began back in 2022, but has been fast-tracked according to Europe’s leading manufacturer of powered two-wheelers.

“In November 2022, KTM AG, a subsidiary of PIERER Mobility AG, acquired 25.1% of MV Agusta Motor S.p.A., based in Varese (Italy), as part of a capital increase. As part of this cooperation, KTM AG took over the supply chain and purchasing of MV Agusta in October 2023. In addition, MV Agusta's product range is also distributed in part via PIERER Mobility's global sales network. The call option granted to KTM AG on the basis of the annual financial statements as of December 31, 2025 to acquire a majority stake in MV Agusta Motor S.p.A. will now be exercised prematurely. 

“The purchase price for the remaining 25% of the shares was calculated in accordance with the previously agreed valuation method (EBITDA multiple). This means that KTM AG will take over the majority and also the industrial management of MV Agusta Motor S.p.A. In the medium term, an annual production volume of more than 10,000 MV Agusta premium motorcycles is planned at the site in Varese.”

In a related move, KTM scion Hubert Trunkenpolz has been appointed CEO of MV Agusta. “With the early takeover of the majority and as a commitment to the location and responsibility for the employees, Hubert Trunkenpolz, member of the executive board of PIERER Mobility AG, assumes the role of Chairman and Chief Executive Officer, alongside Timur Sardarov as Deputy Chairman and Luca Martin steps into the role of Deputy CEO and Managing Director. Filippo Bassoli joins the board as Chief Marketing Officer and Managing Director, while Barbara Kenedi is confirmed as Chief Alliance Officer.”

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