2:13 pm, May 14, 2026
Japanese trading group ITOCHU Corporation has acquired Peter Vardy Global’s CarMoney for an undisclosed sum.
The deal has now been approved by the Financial Conduct Authority and comes as Peter Vardy has also disposed of its Porsche Centres in Perth and Aberdeen – the business’s two last remaining motor retail operations.
The deal will see the Motherwell-based automotive finance business become part of the ITOCHU Group while continuing to operate independently under its existing management team.
CarMoney said the takeover will help accelerate its expansion plans in both the UK and international markets.
ITOCHU is one of the world’s largest ‘sogo shosha’ trading groups, and operates around 90 bases across 61 countries.
CarMoney was launched in 2016 by Peter Vardy Global and has grown rapidly in the UK market by focusing on customer service, lender relationships and a franchise-led distribution model.
The business was named Scotland’s 12th fastest-growing company last year after brokering a record £309m in loans, generating revenues of £33.8m and delivering trading profits of £4.5m.
Peter Vardy, CEO of Peter Vardy Global (pictured), said: ‘Peter Vardy Global focuses on investing in high-growth businesses across technology, fintech and automotive, where our experience and the strength of our teams can help accelerate growth and create long-term value.
‘CarMoney is a strong example of that approach, and partnering with ITOCHU provides the scale, capital and international perspective to support the next phase of its development.’
Alastair Grier, CEO of CarMoney, said the acquisition would allow the business to accelerate investment and job creation.
He said: ‘CarMoney has grown quickly by building a strong team and a scalable franchise model.
‘With ITOCHU as a long-term owner, we are well positioned to accelerate growth, invest further in the business and create additional jobs in Scotland, while continuing to deliver for our customers, partners and franchisees.’
News of the sale’s completion comes as the Dutch car dealer group Van Mossel announced it is in the process of acquiring Peter Vardy’s Porsche Centres in Perth and Aberdeen.
The two sites were Peter Vardy’s last motor retail business, as it continues its move away from the motor trade – read more here.
