Brembo, supplier of high-performance brake systems, signed an agreement with Bosch Chassis Systems India to purchase the remaining 50 percent of KBX motorbike Products Private, according to a Brembo press release.
The acquisition is expected to be finalized by the end of the year. The agreed upon price is equal to about $1.3 million.
KBX holds a 50 percent market share of motorcycle brake systems manufactured in India and its main clients include Bajaj, Hero Honda, Honda Motors, Yamaha, Suzuki and Royal Henfield.
Alberto Bombassei, chairman of Brembo S.p.A., said in the press release, “This acquisition is another important step for the growth of Brembo in a fast growing market. Brembo will continue to search for further development opportunities also in other segments of its core business.”