The French specialist in the online used car trade, Aramis Group, has finalized the takeover of Cazoo’s activities in Italy. This resulted in a subsidiary called Brumbrum, named after the former entity acquired at the start of 2022 by the British.
Cazoo leaves Italy by selling its activities to Aramis Group.
Cazoo leaves Italy. On Tuesday November 1, 2022, the British group specializing in the online sale of used cars formalized the sale of its activities on the transalpine market to its competitor, Aramis Group for an amount that has not been disclosed.
The Stellantis subsidiary takes over the entirety of Cazoo Trading Italy. Without delay, this new branch of the Aramis Group universe will be renamed Brumbrum, after the name of the company taken over at the start of 2022 by the ambitious Briton, then on his way to conquering Europe.
On paper, Aramis Group completes a great operation with this transaction to be included in Cazoo’s plan to withdraw from continental Europe. The Italian used vehicle platform sells approximately 1,600 units to individuals per year and generates around 30 million euros in turnover. The French group is therefore penetrating the Italian market through the front door and at a lower cost.
Read also : Aramis boosts its used-car reconditioning capacity
The calendar is also favorable for the company to Guillaume Paoli and Nicolas Chartier. Indeed, it should be remembered that Stellantis has initiated a plan for the partial redevelopment of the Fiat plant in Mirafiori (near Turin), aimed in particular at acquiring a strong capacity for reconditioning used cars. A structure that Brumbrum will be able to take advantage of.
On the side of Cazoo, the speed with which this sale ended allows the unicorn to leave Italy before the end of the year and to save what can still be saved in the financial balance sheet. It now remains to be seen what scenario will be adopted in each of the other countries, namely France, Germany and Spain.