24 October 2022
AUTO TRADER GROUP PLC
Sale of Webzone Limited
Auto Trader Group plc (LSE: AUTO, "Auto Trader" or the "Company"), the UK's largest automotive marketplace, today announces the sale of one of its subsidiaries, Webzone Limited, which trades in the Republic of Ireland under the Carzone brand. The business has been sold to Mediahuis Ireland, Ireland's leading print and digital media publisher which also owns CarsIreland.ie and Cartell.ie, for consideration of €30 million.
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.
Commenting on the sale, Nathan Coe, Chief Executive Officer of Auto Trader, said: "Carzone has been part of the Auto Trader Group for nearly 20 years, and I want to thank the whole Carzone team for their hard work during that time. We remain focused on our strategy in the UK, which is to grow our marketplace and establish the products and technology to enable retailers to do more of the car buying journey online, on Auto Trader."
Xavier van Leeuwe, CEO Mediahuis Marketplaces: "We are delighted to welcome the Carzone team into the Mediahuis group. The Carzone brand has a long standing and incredible track record in the Irish automotive space. The culture of excellence of its employees is a significant addition to the expertise within our group. Adding to our existing CarsIreland.ie and Cartell.ie brands, Mediahuis will present an unrivalled offering to the entire Irish motor industry, manufacturers, retailers and consumers alike, allowing us to build the business that will lead the industry in years to come."
For media information
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Powerscourt (Rob Greening / Elizabeth Kittle / Sam Austrums) |
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About Auto Trader
Auto Trader Group plc is the UK's largest digital automotive marketplace. Our marketplace sits at the heart of the vehicle buying process, with the largest number of car buyers and the largest choice of trusted stock. Auto Trader exists to grow both its car buying audience and core advertising business. It will change how the UK shops for cars by providing the best online car buying experience, enabling all retailers to sell online. We aim to build stronger partnerships with our customers, use our voice and influence to drive more environmentally friendly vehicle choices and create an inclusive and diverse culture. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 100 Index.
For more information, please visit https://plc.autotrader.co.uk/
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