It is news in the last few hours that Ducati, the Bolognese motorcycle manufacturer, symbol of Italian excellence, could be sold by the Volkswagen group. There would be three suitors: the American Harley Davidson, the Austrian house Ktm (which is part of the Indian group Bajaj), and the Canadian Brp, leader in the nautical field.
There are still no official figures, but something more concrete will be known after the filing of the binding offers, expected by Monday 24 July. However, the acquisition price should be around 1,5 billion dollars. If the figure is confirmed, Volkswagen would reap large benefits.
In fact, the German group acquired Ducati for 860 million euros eight years ago, when the revenues of Borgo Panigale amounted to 480 million euros. Today, sales have skyrocketed 731 million, with an Ebit of 51 million euros.
Ducati's future obviously depends on who wins this three-way race. If Harley Davidson wins it, the marriage would create a group with a turnover of over 2,5 billion, with a complementary product line that is already very strong in the States, the leading market for motorcycles sold for Ducati. The Milwaukee-based company has in fact declared its intention to consider possible acquisitions with the aim of varying its customer target. Harley Davidson could help Ducati to implement the clothing field as well.
The future would be very interesting even if the partnership were to be with Ktm, a company listed on the Swiss stock exchange. The total turnover would exceed 2 billion euros. However, a limit is represented by the commercial offer of the two houses, which very often overlaps. Especially for high-end products, Ducati and Ktm offer substantially alternative motorcycles, and this would require, in the event of an acquisition, a careful commercial policy.
The last scenario to be described is that relating to the possible acquisition of Ducati by Bombardier Recreational Products (Brp). We are talking about a real giant active in the production of different types of vehicles. The Canadian company has an annual turnover of 4,2 billion dollars and is present in more than 100 markets. Owner of the Can-Am motorcycle brand, specialized in three or four-wheeled off-road, it is however absent in the two-wheel sector. Thus the acquisition of Ducati would expand the range of products offered to maximum levels.
