Manchester-based FTSE 100 firm Auto Trader Group plc announced the sale of subsidiary Webzone Limited, which trades in the Republic of Ireland under the Carzone brand.
The business has been sold to Mediahuis Ireland, the print and digital media publisher which also owns CarsIreland.ie and Cartell.ie, for €30 million.
“Carzone is the second largest automotive marketplace for retailers and consumers in Ireland and is headquartered in Dublin,” said Auto Trader Group.
“For the year ended 31 March 2022, Carzone contributed total revenue of £4.9m (which included £4.1m of retailer revenue) and operating profit of £1.3m to Auto Trader’s Group results.
“It represented 4% of the company’s average retailer forecourts and 4% of its full-time equivalent employees.”
Auto Trader 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.”
Mediahuis Marketplaces CEO Xavier van Leeuwe 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.”