Online car retailer Cazoo has confirmed the acquisition of Imperial Car Supermarket, a large independent used car retailer in the UK.
Established in 2006, Imperial Car Supermarkets has grown to 18 retail sites across the UK including Bristol, Birmingham, Cardiff, Exeter, Ipswich, London, Portsmouth and Southampton, offering over 2,500 nearly new and used cars for sale, supported by a number of service, preparation and support centres.
The deal enables Cazoo to incorporate its digital platform with Imperial’s UK infrastructure. Cazoo will now have a national network of storage, distribution, after sales and collection hubs.
Alex Chesterman, founder and chief executive of Cazoo 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, added: “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 recently became the fastest British business to reach unicorn status – reaching a valuation in excess of $1bn.
Chesterman said: “We have an amazing team who are dedicated to reinventing the used car buying experience by providing the best selection, value, quality, and convenience for UK car buyers. Despite the current challenges many businesses are facing, Britain remains a market leader for talent and innovation and a great place to start a business.”