Manchester-based digital car dealer Auto Trader has sold its Webzone subsidiary to Mediahuis Ireland in a €30m (£26m) deal.
Webzone trades in the Republic of Ireland under the Carzone brand, while Mediahuis is one of Ireland’s leading print and digital media publishers. It also owns CarsIreland.ie and Cartell.ie. Dublin-based Carzone is the second largest automotive marketplace for retailers and consumers in Ireland.
For the year to March 31, 2022, Carzone recorded revenue of £4.9m and added operating profit of £1.3m to Auto Trader’s group results. Auto Trader was historically part of Guardian Media Group, however The Guardian’s owners sold the brand to London equity firm Apax Partners in a deal worth arounf £600m in 2014.
Nathan Coe, chief executive of Auto Trader, said: “Carzone has been part of the Auto Trader Group for nearly 20 years, and I want to thank the 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.”
