Cazoo has announced the acquisition of independent used car retailer Imperial Car Supermarkets for an undisclosed sum.
Established in 2006, Imperial Car Supermarkets has 18 retail sites, including sites in London, Birmingham, Bristol, Cardiff, Exeter, Ipswich, Portsmouth and Southampton. The sales sites, which retail some 2,500 used cars, are supported by a number of service, preparation and support centres.
Alex Chesterman, founder and CEO 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.”
The deal aims to take advantage of Cazoo’s digital know how and platform, and Imperial's infrastructure, by providing Cazoo with a national network of storage, distribution, after sales and collection hubs.
Chesterman explained: “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.”
In the past month, Cazoo has raised a further £25 million of funding, joining the exclusive list of companies known as unicorns with valuations of over $1 billion, announced two major football sponsorship deals with Everton and Aston Villa and appointed Stephen Morana as its chief financial officer.
Neil Smith, operations director of Imperial Cars, said: “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, which was established in 2018, owns and fully reconditions all its cars before offering them for sale.