AramisAuto buys Belgian retailer Cardoen

16 May 2018

The French recommerce used-auto site AramisAuto has bought a Belgian car sales group Cardoen, for an undisclosed amount.

Aramisauto.com is 70 percent owned by French car manufacturer PSA [EPA: UG], which is a manufacturer of Peugeot, Citroen, DS and Opel (we reported about the acquisition deal here).

With this move, the company expands to Belgium. It expanded to Spain earlier by buying a stake in used-auto classified startup Clicars (we reported here).

PSA Retail is pursuing a strategy of geographic expansion; while also creating a group of digital and physical new and used-car sales channels, including a number of classified sites.

AramisAuto launched as a site for new-auto sales in 2001 and added a used-auto option only later. It specializes in buying back used autos, overhauling them in selected factories, and then reselling them.

Cardoen has 13 car retail locations; six of which are owned by Cardoen itself, and seven by franchisers. Around 85 percent of the cars it sells are new, 15 percent are second hand. The group has revenues of €160 million ($189 million U.S.), the Dutch media reported.

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Anastasia Gnezditskaia

Anastasia Gnezditskaia is a writer / analyst covering France, Benelux and Morocco. Based in Antwerp, Belgium, she has a background working for trade publications covering markets and their regulation in Washington, D.C., where she lived for 10 years. Following this she managed international development projects in Africa at the World Bank, and worked as a journalist covering Congress, federal government agencies and financial markets, including energy futures.