Mahindra Buys Pininfarina for $28 Million
15 December 2015 - Autoblog
Ending months of speculation, Mahindra has confirmed that it has agreed to purchase Pininfarina. Mahindra, a massive conglomerate based in India, will pay around $28 million for 76-percent of the Italian design house, and plans to make offers for the remaining 24 percent.
n addition to the cash payout, Mahindra has guaranteed the Italian brand's creditors more than $125 million, and promises to invest a further $20-plus million into the company. All in, Mahindra's investment into Pininfarina will be near $185 million.
"The legendary high-end design credentials of Pininfarina will significantly enhance the design capabilities of the entire Mahindra Group. Given the increasing design sensibilities of today's consumers, product design will greatly influence customer choice and experience, and hence our success," said Anand Mahindra, Chairman of the Mahindra Group in a statement you can read below.
We're certain the addition of Pininfarina will mean good things for Mahindra's sense of style. But we're equally sure automotive design isn't the only reason the Indian firm decided to slip into something a little more... Italian. Pininfarina's reach already extends far past its traditional transportation sectors, and you can bet that Mahindra will rely on its newest acquisition to spice up its design cred across its many assets.