8:11 am, October 24, 2022
Auto Trader has told its Webzone business to Mediahuis Ireland for €30m (£26m).
Webzone trades in Ireland, under the Carzone brand, and was one of Auto Trader’s subsidiaries.
Auto Trader said the sale was part of its ‘primary’ strategy to focus on the UK market.
CEO Nathan Coe 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.’
He added: ‘The UK has always been our primary strategic focus, so our teams will double down their efforts to develop the products, data and technology to support retailers and to grow our marketplace.
‘We will continue to invest in our business to make digital retailing a reality for all our customers, regardless of their size, as we believe this will provide real growth and efficiency opportunities for the industry.’
Xavier van Leeuwe, CEO Mediahuis Marketplaces, said: ‘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.’
Dublin-based Carzone is the second largest automotive marketplace for dealers and consumers in Ireland.
Auto Trader Group accounts for the year ended March 31, 2022 show that Carzone made £4.9m in revenue – which included £4.1m of retailer revenue – and operating profit of £1.3m.
It represented four per cent of Auto Trader’s ‘average retailer forecourts’, said the firm, and four per cent of its ‘full-time equivalent’ employees.
