Online auto trader announces acquisition of 18-site car retailer
An online car retailer has announced its acquisition of one of the UK’s largest independent used automotove traders.
Cazoo, which is based in London has announced that it has acquired Imperial Car Supermarkets, which has 18 retail sites across the UK.
The deal, which combines Cazoo’s digital capabilities and platform with Imperial’s infrastructure and expertise, is expected to accelerate the transformation of the UK used car market by providing Cazoo with a national network of storage, distribution, after sales and collection hubs.
In the past month, Cazoo has raised a further £25m of funding, joining the exclusive list of companies known as ‘unicorns’ with valuations of over £1bn as it announced two major football sponsorship deals with Everton and Aston Villa.
Alex Chesterman OBE, founder and CEO of Cazoo, said: “The acquisition of Imperial Car Supermarkets will enable Cazoo to better serve its customers and fulfil our increasing number of deliveries throughout the UK.
“This deal provides us with key infrastructure as well as a wealth of automotive expertise which will help accelerate our growth.
“Imperial has a highly dedicated team and I am delighted to welcome them to Cazoo along with Mike, Jon and Scott, who will take up key management positions with us.”
Neil Smith, operations director of Imperial Cars, added: “Jon, Scott and Mike are rightly proud of what they’ve achieved over the past 15 years with Imperial Car Supermarkets.
“They’ve built a great team and excellent infrastructure network and it’s now time for another exciting chapter in our journey.
“Alex and his team at Cazoo have a very clear vision and we’re looking forward to Imperial being part of that story and creating the best possible digital car buying experience for consumers across the country.”
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