Mon, 22 Oct 2018 | BUSINESS SALE
Online retail giant eBay will be acquiring Abingdon-based car search platform Motors.co.uk in a mutually agreed deal for an undisclosed sum.
The business will be bought from Cox Automotive, pending the approval of the Competition and Markets Authority (CMA). The deal will see Motors.co.uk join Gumtree UK, a subsidy of eBay Classifieds business.
As a result, 620,000 car listings will be held by all three companies – Motors.co.uk, Gumtree UK and eBay Motors UK – together.
Managing director at Motors.co.uk Phill Jones said: "Our mission has always been to make buying and selling cars easier. The deal with eBay would allow us to take this to the next level and we're very excited about what it potentially means for our team members, our consumers and our advertisers."
Cox Automotive acquired Motors.co.uk in 2012, and doubled the number of its advertised vehicles and consumer audience. Since this time, the business has developed its network to include numerous automotive websites like Topgear.com, Honest John, Autovillage, Raccars.co.uk and Parkers.co.uk.
General manager of Gumtree UK, Matt Barham, said: “This acquisition would finally present a viable car selling and shopping alternative for car dealers and buyers.
"By combining Motors.co.uk's extensive inventory, dealer engagements, traffic and cutting-edge tools and services with the considerable audience of in-market car buyers provided by eBay and Gumtree, this acquisition would give UK car dealers a significantly broader reach."
Chief executive of Cox Automotive, Martin Forbes added: The deal with eBay is great news for Motors.co.uk and would enable the business, the brand and the team to grow under new ownership where the focus is more consumer-led. For Cox Automotive, it would enable us to focus on building upon our strengths in the wholesale market and in supporting dealers, OEMs, Fleet and Leasing customers with a ‘connected retail’ proposition.”
For more news stories about acquisitions, click here. For all our business for sale listings, click here.
This is a longstanding automotive repair business in Gloucestershire, now available for an interested buyer to purchase. Offers invited.
An excellent opportunity has arisen to acquire a domestic and commercial drainage and plumbing company based in the Midlands. Offers invited.
A unique opportunity has arisen to purchase a growing office and commercial cleaning company. The company provides a comprehensive suite of cleaning services for businesses and organisations across South East England. Offers invited.
Early stage advanced data analysis company Rinocloud has bee...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources