Cazoo Group Ltd – a UK-based online used car retailer – has agreed to sell its German subscription business, Cluno GmbH, to ViveLaCar GmbH and The Platform Group GmbH & Co. KG.
The financial terms of the transaction were not disclosed. The company also said in a statement that the total portfolio includes ‘several thousand cars in the German market’.
The disposal concludes Cazoo’s withdrawal from the German market as part of its strategy to focus exclusively on the UK market.
The agreement includes 100% of the capital and voting rights of the company Cluno GmbH and the Cluno brand along with the associated assets. All employees of Cluno will transfer to ViveLaCar GmbH as part of the agreement.
Following this transaction, together with previously announced sales of other businesses and assets in Europe, the withdrawal of Cazoo from mainland Europe is now largely complete.