U.S. automotive marketplace CarGurus has completed its previously announced plan to buy the rest of digital wholesaling company CarOffer. 

Zach Hallowell

Having purchased 51% of CarOffer for $140 million in January 2021, CarGurus recently closed on the remaining 49% for $75 million, the company announced

Zach Hallowell, an auto wholesaling veteran hired by CarGurus in October, has been named CarOffer’s CEO. Hallowell was previously an executive at Manheim, the auto wholesaling division of Cox Automotive, and before that he worked at OpenLane, a wholesaler acquired by KAR Auction Services in 2011. 

Hallowell replaces Bruce Thompson, CarOffer’s founder, who stepped down after the acquisition was completed

CarOffer will “continue to operate as a standalone brand at its Addison, Texas location,” CarGurus said.

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