• August 12, 2008

The Milwaukee motorcycle maker known for its All-American positioning has acquired Italian motorcycle brand MV Agusta Group for around €70 million, roughly $108 million.

Harley CEO Jim Ziemer said in a statement that the acquisition is intended to grow the company's business in Europe. Harley-Davidson, which also owns the U.S. sport-bike brand Buell, will get premium, high-performance sport motorcycles sold under the MV Agusta brand; and a line of lightweight sport motorcycles sold under the Cagiva brand.

Harley-Davidson has named Matt Levatich as managing director of MV Agusta Group. Levatich is based in England.

The company says it has had strong sales in Europe, with double-digit sales increases in each of the past three years.

Currently, Cagiva USA is the North American distributor for Schiranna, Italy-based Agusta MV.--Karl Greenberg