Tue, 07 Jun 2016 | DIVISION SALE
Insurance giant esure has launched a strategic review into its price comparison website GoCompare less than two years after taking over the business.
Esure, which also owns well-known insurance brands such as Sheilas' Wheels, increased its stake in GoCompare to take over the entirety of the business for £95 million at the end of 2014. However, after only a year and a half, it is now thinking of selling off the division.
Esure values the business highly, predicting that the comparison site’s profitability should improve by 20 to 30 per cent this year following its increased focus on marketing and offering an expanded product range.
The timing of the strategic review comes on the back of preparations for an initial public offering (IPO) at chief rival Comparethemarket, which is valued by its owners BGL Group at £1 billion.
Both GoCompare and Comparethemarket are well known to British customers due to their high profile advertising campaigns — with GoCompare featuring the moustachioed opera singer Gio Compario and Comparethemarket featuring Eastern European meerkats alongside Hollywood superstars such as Arnold Schwarzenegger and Nicole Kidman.
In other news, GoCompare has just announced a new chief executive officer in the form of Matthew Crummack, who will take over from former boss Jon Morell. Mr Crummack has previously worked in senior positions at travel and hotel booking websites lastminute.com and Expedia.
For more information, see the latest businesses for sale.
A leading face to face fundraising agency providing high quality private site campaigns. Long established company operating over 10 years. Operates from leasehold premises in London. Offers invited.
LEASEHOLD
Multi-faceted business opportunity developed by our clients in 2014 and now offered for sale due to the directors other business ventures. Owners have firmly planted the venue for live music particularly live jazz, blues, funk and soul. Any new buyer...
LEASEHOLD
Acorn's Healthy Option Pet Food Store. The shop is extremely well established and very well presented with a fantastic reputation; due to the good service and quality products the shop provides. Business has a lot of repeat customers, as well as the...
LEASEHOLD
|
18
|
|
Dec
|
High street clothing chain enters administration | ADMINISTRATION
A prominent high street clothing chain has collapsed into ad...
|
15
|
|
Dec
|
Two pub companies enter administration | ADMINISTRATION
Mitchell’s of Lancaster (Brewers) Limited and York Bre...
|
13
|
|
Dec
|
Harvard Technology Limited enters administration | ADMINISTRATION
A lighting company based in Normanton has been forced to eng...
Sign up to receive our acquisition alert emails to get your FREE guide
|
10
|
|
Dec
|
Gocompare and Esure brought together in £95m deal | BUSINESS SALE
Price comparison site Gocompare.com is to be bought by Esure...
|
05
|
|
Nov
|
Go Compare to hit the market? | BUSINESS SALE
Insurance company Go Compare could be up for sale in the nea...
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