Home Auto Auto Trader sells Carzone business in Ireland

Auto Trader sells Carzone business in Ireland

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Auto Trader has sold Webzone, which trades in the Republic of Ireland under the Carzone brand, to Mediahuis Ireland, which owns CarsIreland.ie and Cartell.ie, for €30m.

Carzone is the second largest automotive marketplace for retailers and consumers in Ireland and is headquartered in Dublin.

For the year ended 31 March 2022, Carzone contributed total revenue of £4.9m (which included £4.1m of retailer revenue) and operating profit of £1.3m to Auto Trader’s Group results.

It represented 4% of the Company’s average retailer forecourts and 4% of its full-time equivalent employees.

Nathan Coe, chief executive officer of Auto Trader, said: “The UK has always been our primary strategic focus, so our teams will double down their efforts to develop the products, data and technology to support retailers and to grow our marketplace.

“We will continue to invest in our business to make digital retailing a reality for all our customers, regardless of their size, as we believe this will provide real growth and efficiency opportunities for the industry.”

https://www.motortrader.com/motor-trader-news/automotive-news/auto-trader-sells-carzone-business-ireland-24-10-2022

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