Castiglioni Confirms Polaris Interest In MV Agusta
Rennie Scaysbrook | May 30, 2016
MV Agusta’s President and CEO Giovanni Castiglioni has confirmed to Cycle News Polaris, the U.S company responsible for Victory and Indian Motorcycles, in in talks with MV Agusta about acquiring a majority share in the legendary Italian brand.
“I can confirm that we’ve been in discussions with them (Polaris) about some form of partnership, just as with other companies interested in investing in the commercially successful premium brand that is MV Agusta,” Castiglioni exclusively told Cycle News European correspondent, Alan Cathcart, in an extensive interview, part one of which will be live in this week’s issue of Cycle News, on Tuesday May 31. “But we absolutely have not made any agreement with Polaris at this stage, even in draft form. Beyond that, I can’t comment any further.”
The alignment of MV Agusta and Polaris could be a perfect marriage for both companies. Polaris has been on a spending spree over the last five years, acquiring not just Indian Motorcycles but also electric giant Brammo. Purchasing a controlling share in MV Agusta would give Polaris a foot in the door of the sportbike and sport touring market, both of which Victory and Indian do not service. The MV Agusta name would also be a massive commercial feather in Polaris’ cap.
Castiglioni made the comments to Cathcart at the MV’s Varese headquarters in Italy. He also noted the partnership with Mercedes AMG has been nothing short of a disaster.
“Mercedes was interested in joining up with MV Agusta as a partner by purchasing equity in it – but I’m sorry to say the partnership has been disastrous, a total failure. I mean, there is no partnership to speak of,” Castiglioni said. “They (Mercedes) made no strategic use of MV. Zero.”
Stay tuned to Cycle News this week as Castiglioni reveals the full extent of MV Agusta’s financial and commercial hardship, and how he plans to rectify the company’s ills.