Cazoo to acquire Italian used car group

Online used car retailer Cazoo is to acquire Brumbrum, an online car retailer and subscription platform based in Italy.

Alex Chesterman, Cazoo

Founded in 2016, Brumbrum is based in Milan and has a team of 180 staff, including at its 40,000 square metre vehicle preparation site in Reggio Emilia, which has the capacity to refurbish over 15,000 cars annually. The business offers hundreds of vehicles for sale, finance or subscription for delivery across Italy.

The acquisition is valued at €80 million in a mix of cash and Cazoo shares. Senior bankers including Mauro Premazzi and Vagelis Kollintzas from investment bank Jefferies Group advised on the deal.

READ: CAZOO ACQUIRES IMPERIAL CAR SUPERMARKET 

READ: COPART LAUNCHES ‘CASH FOR CARS’ PLATFORM

Following recent launches in France and Germany and acquisitions in Spain and Italy, the UK headquartered firm will now have a presence across each of the five largest European markets for used cars.

Alex Chesterman OBE, Founder & CEO of Cazoo said: “Brumbrum is the leading online car retailer and car subscription player in Italy and has built a great team, culture and business and much like Cazoo in the UK, it has been pioneering the shift to online car buying in Italy.”

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

DVLA ‘ghost records’ highlight EU driving licence loophole

Licence holders that do not update details are causing a headache for insurers

Read More

Over half of garages preparing to increase prices

Survey shos increasing parts prices, coupled with cost of living, is bringing workshops to increase rates

Read More

GSF Car Parts looks ‘Beyond Tomorrow’ with national staff conference

First all-hands meeting since November rebrand

Read More

VM problems ‘benefit’ used market says ECP’s Hamilton

LKQ Euro Car Parts’ CEO speaks about the buoyant used car market and the aging vehicle parc

Read More

New ACEA Heavy-Duty Engine Oil sequences published

New categories to replace obsolete E6 and E9 categories

Read More

Go to comments

Your email address will not be published. Required fields are marked *