While the entire motorcycle industry gathered at Milan, Italy’s Fiera Milano Rho for EICMA 2022, MV Agusta played hooky, skipping out on the annual gathering. Despite its truant ways, the Schiranna manufacturer still stole the show with its limited-edition Superveloce 1000 Serie Oro retro racer. MV Agusta’s Milan showroom played host to the unveiling’s glitz and glamor, but the real action took place behind the scenes.
Just weeks before EICMA 2022, KTM, a subsidiary of Pierer Mobility Group, signed an agreement to take over MV Agusta’s North American distribution in September, 2022. Days before the event kicked off, the pair revealed that KTM would also assume purchasing and supply chain support for the Italian marque.
The filings, which characterize the relationship as a “strategic cooperation”, even laid out KTM’s future plans to seize a 25-percent stake in MV Agusta by way of a capital infusion. Those plans came to fruition on November 15, 2022.
Immediately before the company's latest shareholders’ meeting, MV announced KTM’s €30M ($31.1M USD) investment. The funds not only net Team Orange a 25.1-percent stake in the boutique brand but also installs two KTM senior management team members into MV Agusta’s board of directors.
This isn’t KTM’s first “joint venture” rodeo either. In 2019, the Austrian brand partnered with GasGas Motorcycles. KTM later acquired the Spanish OEM in 2020. Of course, KTM hasn't announced similar plans for its new Italian partner. For now, MV Agusta CEO Timur Sardarov is focusing on the firm's immediate future.
“I am excited about this important agreement, and delighted to welcome KTM AG, Europe’s leading powered two-wheeler manufacturer, into the MV Agusta family,” stated Sardarov. “Driven by our shared vision of excellence, the principal goals of our alliance will be the consolidation of our core business and the production of high-performance motorcycles in the premium segment. I am confident that the agreement will strengthen our brand in a complex and challenging marketplace.”