Harley-Davidson completed its purchase of MV Agusta this morning, paying $108 million for the storied Italian motorcycle maker. That figure includes $69 million paid to erase MV’s debts and includes the Cagiva brand. Matt Levatich, formerly vice president and general manager of Harley parts and accessories and custom vehicle operations, has been appointed managing director of MV Agusta.
>Harley has seen double-digit sales growth in Europe over
the last three years, offsetting losses at home. This deal will
increase its presence in that market. Harley shares rose 2.1 percent to
$40.88 in morning trading.
Levatich, whose current responsibilities include coordinating Harley’s
300+ suppliers with its five US factories, oversaw the European launch of
Buell in 1997. That’s likely his main qualification for running MV
Agusta. Claudio Castiglioni will remain with the company as Chairman,
while Massimo Tamburini will continue to his leadership of the design