Cazoo has confirmed it has bought Imperial Car Supermarket – a move exclusively revealed on Sunday by Car Dealer Magazine.
In a statement issued today the online used car dealer has confirmed it it bought the 18 location dealer group for an undisclosed sum.
Cazoo says it offers them a national network of storage, distribution, after sales and collection hubs.
Imperial Car Supermarkets was established in 2006 and has grown to 18 retail sites across the UK offering more than 2,500 nearly new and used cars for sale and is supported by a number of service, preparation and support centres.
In a statement, Cazoo said the deal combines their ‘leading digital capabilities and platform with Imperial’s extensive infrastructure and expertise’ and that it will ‘accelerate the transformation of the UK used car market’.
Car Dealer Magazine exclusively reported rumours the group was about to be bought on Sunday.
Sources told Car Dealer Magazine that staff at Imperial Cars had been seen showing Cazoo founder Alex Chesterman around dealerships.
Chesterman – who started Zoopla and LoveFilm – has reportedly toured showrooms in recent weeks with a team of people seen ‘measuring up’.
Chesterman said: ‘The acquisition of Imperial Car Supermarkets will enable Cazoo to better serve its customers and fulfill our increasing number of deliveries throughout the UK.
‘This deal provides us with key infrastructure as well as a wealth of automotive expertise which will help accelerate our growth. Imperial has a highly dedicated team and I am delighted to welcome them to Cazoo along with Mike, Jon and Scott, who will take up key management positions with us.’
Neil Smith, Operations Director of Imperial Cars said: ‘Jon, Scott and Mike are rightly proud of what they’ve achieved over the past 15 years with Imperial Car Supermarkets.
‘They’ve built a great team and excellent infrastructure network and it’s now time for another exciting chapter in our journey.
‘Alex and his team at Cazoo have a very clear vision and we’re looking forward to Imperial being part of that story and creating the best possible digital car buying experience for consumers across the country.’
Cazoo has been busy raising huge sums of money and its recent round of funding saw the firm valued at £800m. It has been heavily spending on marketing with a £10m sponsorship deal of Everton, TV and radio advertising.
Imperial Cars, started by director Mike Bell, has built a hugely successful car dealer group which made £1.1m profit in the financial year 2018/2019, the last accounts available.
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