KTM Takes Majority Control Of MV Agusta
With this latest move, the storied Italian brand is now in Austrian hands.
Pierer Mobility AG, KTM’s parent company, continues its expansion spree by taking over yet another brand. In an investor’s report, the Austrian group announced it has acquired a 50.1 percent stake of MV Agusta, officially gaining majority control over the storied Italian motorcycle brand.
The strategic moves that culminated in this acquisition have been playing out for a couple of years now. Back in the Summer of 2022, KTM AG announced it was partnering with MV Agusta for the distribution of the iconic Schiranna bikes in North America. Not long after, KTM acquired 25.1% of the Italian brand and, in 2023, stated its intention to gain a controlling share and continue its plan to steer the troubled-company toward success. “MV Agusta is a jewel. It deserves more visibility, and we will take control of it in a reasonable time,” said Hubert Trunkenpolz, a member of KTM’s executive board.
The takeover was projected to occur until 2026, but the giant Austrian motorcycle manufacturer has decided to pull the trigger early. The premature move seems to have been prompted by the tangible success of the strategic partnership so far. In fact, MV Agusta is now on track to achieve a net profit for the first time in many years. In 2023 alone, the Italian company introduced 5 new models, and all limited series were sold out within hours of their launch. Additionally, a new dealer network has been established, further reinforcing the brand identity.
The Sardarov family, which had majority ownership of MV Agusta, will maintain joint control and a 49.9% stake in the company. Moreover, Hubert Trunkenpolz is taking over the role of CEO and Chairman from MV Agusta’s CEO Timur Sardarov, who will continue to be available to the company as Vice-Chairman, brand ambassador and consultant.
With this move, KTM AG will take over the industrial management of MV Agusta. There are also plans to increase annual production volume to more than 10,000 MV Agusta premium motorcycles at the company’s site in Varese, Italy.
KTM is now the new owner of MV Agusta Motor S.p.A.
MV AGUSTA UNVEILS NEW STRATEGIC LEADERSHIP
22 March 2024 / Varese, Italy
In a landmark move marking the start of a new chapter in its history, MV Agusta, the iconic Italian motorcycle brand known for its blend of cutting-edge performance and unparalleled craftsmanship, announces significant changes to its leadership structure. This strategic evolution follows the recent majority acquisition by PIERER Mobility AG, paving the way for an exhilarating future of growth.
The newly appointed board of directors is all set to steer MV Agusta into its next phase of global expansion and technological advancement, underscoring the brand's commitment to Italian excellence and its rich heritage.
The Board of Directors is composed as follows:
Hubert Trunkenpolz takes the helm as Chairman and Chief Executive Officer, bringing a wealth of experience from his long-standing career in the motorcycle industry, particularly his crucial role in expanding KTM's global footprint.
Timur Sardarov is appointed Deputy Chairman, recognising his pivotal contributions and vision in driving MV Agusta's recent successes and brand resurgence.
Luca Martin steps into the role of Deputy CEO and Managing Director, where his extensive knowledge and passion for motorcycles will continue to enrich the brand's innovative edge.
Filippo Bassoli is appointed Chief Marketing Officer and Managing Director, bringing a fresh perspective and dynamic approach to the company's marketing, brand and communication strategies.
Barbara Kenedi has been confirmed Chief Alliance Officer, tasked with forging strategic partnerships and alliances to bolster MV Agusta's position in the global marketplace.
Victor Sigl and Ratmir Sardarov serve as Non-Executive Directors, offering their invaluable insight and oversight to ensure the company's long-term strategic objectives are met.
MV Agusta extends its gratitude to Simone Tedeschi for his tenure as a board member. Tedeschi's role was instrumental in nurturing a fruitful partnership between PIERER Mobility AG and the Sardarov family, laying a solid foundation for the brand's future endeavours.
Under this new leadership, MV Agusta is setting off on an ambitious journey, focusing on innovation, market expansion, and strengthening its legacy as an Italian manufacturer of the world's most prestigious motorcycles. The board's diverse expertise and unified vision will undoubtedly propel MV Agusta towards new heights of success and redefine the boundaries of motorcycle excellence.