The world’s oldest motorcycle manufacturer; Peugeot has been taken over by Mutares who are a German private equity firm.
Peugeot were formed in 1898 and are more known for small displacement cc scooters and these days heavily linked with Chinese collaborative efforts too. They have a turnover of 140million euros and are based in Mandeure, France with their own manufacturing and assembly plant which is also part supported by Chinese company JNQQ.
Mutares recently announced they have now increased a 50% equity buy into Peugeot taking 80% controlling interest from Mahindra who will still stay on in a supporting role both in terms of structure and products.
A statement from Mutares:
Johannes Laumann, the CIO of Mutares, said this about the acquisition of Peugeot Motorcycles: “Peugeot Motorcycles is an internationally recognised brand built on a rich history as the world’s oldest manufacturer of motorised two wheelers. Furthermore, Peugeot Motorcycles acts as an OEM, and we see a huge potential of strong synergies arising within our automotive and mobility segment.”
A statement from Mahindra:
Rajesh Jejurikar, Executive Director, Auto & Farm Sectors, of Mahindra: “We are delighted to welcome Mutares to Peugeot Motocycles. Our efforts are aimed at preserving this French brand which has been delighting its customers for 124 years. With a proven track record of transforming companies across Europe, combined with a strong expertise in the automotive sector, Mutares is the ideal partner to strengthen and grow the brand with the continued support of M&M.”
It is hoped that the German takeover can ensure the future prosperity of the French brand and support the introduction of many more motorcycles and scooters in the coming months and years.