Cazoo Group reaches deal to sell German subscription service Cluno
Cazoo Group, an online car retailer in the UK, has agreed to divest its German subscription service Cluno GmbH to ViveLaCar GmbH and The Platform Group GmbH & Co. KG.
The specifics of the financial terms are not available, however, the entire portfolio comprises thousands of cars in Germany.
The sale concludes Cazoo Group’s exit from its German market, as part of its plan to concentrate on the UK market exclusively.
According to Cazoo Group, the deal covers 100 percent of the capital and votes of Cluno GmbH as well as the Cluno brand, and the related assets.
Cazoo Group reaches deal to sell German subscription service Cluno
As part of the agreement, employees of Cluno will be transferred to ViveLaCar GmbH.
After the deal and the previously announced sale of assets and other businesses in Europe, the pullout of Cazoo from mainland Europe has been largely completed.