An online motors platform used by nine regional press publishers has been sold to a company specialising in automotive services.
Motors.co.uk has nine regional newspaper partners, with a combined reach of over 19m adults every week.
Manheim chief executive John Bailey said: “The acquisition of Motors.co.uk is a significant and important investment for us and it fits perfectly within our evolving portfolio of products, particularly as the digital marketplace becomes ever more influential.”
“We have been watching the online classified business here in the UK for some time and we’ve had a growing presence in this important market with our own sites All Approved Cars and, more recently, Carmony.
“In just five years Motors.co.uk has built up a substantial presence and great reputation in the UK and the opportunity to acquire them has come at a perfect time for us, as we look to expand our services in this space.”
Motors.co.uk Chief Executive Garry Hobson said that the Manheim brand, coupled with the extent of its services and customer base would provide them with a unique platform on which to build the business.
All Motors.co.uk employees will transfer to Manheim and the business will sit within its Manheim Retail Services area however there are no immediate plans to change the day to day operations.
Listing on Motors.co.uk will be combined with those offered through Manheim’s ‘approved used car’ portal, Carmony.