LONDON & NEW YORK–(BUSINESS WIRE)–As part of Cazoo Group Ltd’s (NYSE: CZOO) strategic review of its European business, Aramis Group SA and Cazoo Holdings Limited have reached an agreement for Aramis Group to acquire 100% of the capital and voting rights of Cazoo Trading Italy S.p.A., which will be rebranded with immediate effect to brumbrum.
The Company sells around 1,600 used vehicles B2C each year with annual revenues of around €30 million. The transaction is not subject to any conditions precedent, including antitrust aspects and the Company will be integrated within Aramis Group with immediate effect.
For Cazoo, this transaction provides the opportunity, in line with its previously announced plans to withdraw from mainland Europe, to quickly exit from the Italian market, contributing to its plan to reach profitability without the need for further external funding.
For Aramis, it is a great opportunity to enter, at attractive financial conditions, a strategic market in continental Europe, representing 20 billion euros of annual transactions, and where Stellantis, Aramis Group’s majority shareholder, has a very strong presence.
About Cazoo – www.cazoo.co.uk
Our mission is to transform the car buying and selling experience across the UK by providing better selection, value, transparency, convenience and peace of mind. Our aim is to make buying or selling a car no different to ordering any other product online, where consumers can simply and seamlessly buy, sell or finance a car entirely online for delivery or collection in as little as 72 hours. Cazoo was founded in 2018 by serial entrepreneur Alex Chesterman OBE and is a publicly traded company (NYSE: CZOO).
About Aramis Group – www.aramis.group
Aramis Group is the European leader for B2C online used car sales and operates in five countries. A fast-growing group, an e-commerce expert and a vehicle refurbishing pioneer, Aramis Group takes action each day for more sustainable mobility with an offering that is part of the circular economy. Founded in 2001, it has been revolutionizing its market for over 20 years, focused on ensuring the satisfaction of its customers and harnessing digital technology and employee engagement to create value for all its stakeholders. With annual revenues of nearly €2 billion, Aramis Group sells more than 90,000 vehicles B2C and welcomes more than 80 million visitors across all its digital platforms each year. The Group employs around 2,300 people and has seven industrial-scale refurbishing sites throughout Europe. Aramis Group is listed on Euronext Paris Compartment A (Ticker: ARAMI – ISIN: FR0014003U94).
