(Reuters) - The owner of offroad motorbike maker KTM (KTMP.VI) acquired rival brand Husqvarna from Germany's BMW (BMWG.DE) on Thursday in a consolidation move that helps shave costs as the industry copes with a slump in Europe.
Entrepreneur Stefan Pierer, who owns a majority stake in KTM, told Reuters he was taking a page out of Volkswagen's (VOWG_p.DE) book by buying the Italian-based company, whose one-cylinder enduros and motocross bikes are dubbed "Huskies" by their fans.
"Almost ten years ago we started a small platform strategy just like what Volkswagen does on a far larger level," he said in a telephone interview after the deal, declining to provide financial details.