Cazoo acquired by G3 Vehicle Auctions – expansion planned
- 24/05/2024
- Posted by: Bob Malkowski
- Category: News
G3 Vehicle Auctions has acquired the Cazoo Wholesale business, following Cazoo’s entry into administration on 21 May.
As part of its ongoing expansion plans, G3 Vehicle Auctions will create a new G3 Bedford auction facility. G3 moved quickly in securing the Cazoo business, only days after Cazoo entered administration. The acquisition includes the premises, land, software assets and the existing experienced remarketing team from Cazoo.
The Bedford facility will add to G3’s existing Castleford centre, with the expansion increasing staff to more than 140 and doubling the company’s capacity for vehicles. G3 expect its new Bedford marketplace to offer in excess of 30,000 vehicles per annum.
Cazoo acquired by G3 Vehicle Auctions
Regarding the acquisition of Cazoo’s wholesale business, Matt Dale, co-owner of G3 Vehicle Auctions, said:
“This year is the 15th Anniversary of G3 and after the recent development of our G3 Castleford centre and the uptake it has had in the industry, we have been actively seeking the right opportunity to extend our network across the UK. We are excited to onboard a group of experienced individuals to the team and collectively drive the service we’ve become known for at G3 into a new region, with further expansion opportunities currently in the pipeline.”
The purchase of the former Cazoo facility creates a secure 14-acre site which will be fully operational overnight with a newly formed sales schedule being released shortly. G3 Bedford will become an additional drop-off centre for their network of finance house partners and will also offer onsite de-fleet and refurbishment facilities as well as offering secure fleet and in-life storage options.
G3 intends to relocate its existing Pool Fleet operation to this new facility due to its location and range of facilities and will also look to expand and focus on existing relationships within this sector. The Bedford site currently holds EVA accreditation standards, allowing G3 Bedford to become an EV-focused auction centre.
