Motors.co.uk Limited is acquiring Cazoo, enhancing its online used car offerings and expanding market reach effective June 27, 2024.
Information on the Target
Motors.co.uk Limited (referred to as "MOTORS") operates the eponymous British used car portal. Since 2021, it has been a portfolio company of Novum Capital. As of June 27, 2024, MOTORS will expand its operations by acquiring the competing brand Cazoo. Founded in 2018, Cazoo quickly gained recognition in the UK market for its user-friendly used car platform.
The merger with Cazoo will significantly enhance the offerings for both commercial and private car buyers and sellers. Starting July 2024, users will benefit from the Cazoo mobile app, which provides access to approximately 250,000 vehicle listings.
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Industry Overview in the UK
The UK automotive market is experiencing robust growth, particularly in the online used car sector. Consumer preferences have shifted towards digital platforms, where buyers seek convenience
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