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Adevinta — M&A Activity 2019
Sep 9, 2019
3520_rns_2019-09-09_f2e99a4c-fcd6-41e4-a14a-b2a3d21d4381.html
M&A Activity
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Adevinta ASA - Adevinta announces that leboncoin Group has reached an agreement to acquire Argus Group
Adevinta ASA - Adevinta announces that leboncoin Group has reached an agreement to acquire Argus Group
Oslo, 9 September 2019: Adevinta (https://www.adevinta.com/) announces it has
reached an agreement to acquire the Argus Group (https://www.largus.fr/), the
leading player in digital marketing services to the automotive industry in
France, to further strengthen leboncoin Group (https://www.leboncoin.fr/),
France's number one peer-to-peer website and leading online marketplace for
cars, property and jobs. The transaction is expected to close by the end of
October 2019.
Leboncoin Group continues to deepen its penetration of the automotive sector in
France, building on from the recent acquisition of PayCar in June. With this
acquisition, leboncoin will benefit from the Argus' expertise and penetration of
the professional market for second-hand car trade, particularly the Argus'
flagship product, a second-hand vehicle pricing tool which is the number one
player in the French market. Leboncoin Group will also look at developing the
Argus' activities in line with its objectives and those of the wider Adevinta
Group, notably by accelerating digitisation and refocusing international
expansion within Adevinta's footprint. In 2018, the Argus generated revenue of
EUR39.1 million and operating earnings of EUR5.4 million (EBITDA).
"We have said we will engage in M&A activity to strengthen our positions in
markets where we are already leading, and we are following through on that
commitment," said Rolv Erik Ryssdal, CEO of Adevinta. "We have also seen strong
growth in our key sectors in cars, jobs and property, and acquiring the Argus
Group enhances our strong position in the French car market segment."
Founded in 1927 and headquartered in Paris, the Argus offers a range of products
aimed at professionals in the automotive industry, including manufacturers,
distributors, dealers, and auctioneers. Originally established as a trade
publication more than 100 years ago, the group has successfully diversified and
digitalised its services, to cover key aspects of the sector under five business
segments: Argus Information, Argus Valuation, Argus Solution, Argus Acquisition
and Argus Consulting. The group has created the number one market reference in
valuing second-hand cars in France, through the Cote Argus® that has a 90%
market share. The Argus employs approximately 270 employees in Paris, Nantes,
Toulouse and Casablanca (Morocco).
Antoine Jouteau, CEO of leboncoin Group, commented, "leboncoin is the French
second-hand car market leader with 9 out of 10 car professionals using us. This
acquisition will help us further strengthen our position in the automotive
market. The Argus' offerings will complement our own solutions, especially their
core pricing tool. Car professionals and their businesses will benefit greatly
from our combined data knowledge, expertise and strength in the sector, and the
improvements we'll be able to offer across the entire value chain. The list of
synergies to consider is almost endless, underlining the excellent fit of Argus'
core businesses with ours."
"Argus is the leading player in second-hand car valuations and management
software in France, while leboncoin is the undisputed leader of classified ads
and data in France. The combination of the two brands is therefore complementary
and innovative. We chose leboncoin as we share a similar vision for our
businesses, to be ever more inventive in serving our customers better. This is
also made possible thanks to the expertise of our employees," said Alexandrine
Breton des Loÿs, President of L'Argus Group.
The value of the transaction is undisclosed.
- End -
About leboncoin
The number one peer-to-peer website in France, leboncoin is the leading online
marketplace for cars, property and jobs. It is used every month by 28 million
unique visitors (Médiamétrie, March 2019). In a survey of French consumers,
leboncoin was rated France's 4th most useful company (IFOP 2017 'Terre de
Sienne' usefulness study), valued for the range of its offer and the ease of the
transactions it facilitates every day. In a context of strong growth, leboncoin
is committed to the well-being of its 900 employees, coming top five in France's
'Great Place To Work' rankings. Today, leboncoin is a Group that encompasses the
classified ad sites Agriaffaires (agricultural equipment), TrucksCorner (heavy
trucks), MachineryZone (construction), A Vendre A Louer (property), Paycar (P2P
payment for vehicles), Locasun (B2C holiday rental), and the second hand fashion
website Videdressing, as well as a startup accelerator. Leboncoin Group is part
of Adevinta, a marketplaces group listed on the Oslo Stock Exchange.
About Adevinta
Adevinta is a global online classifieds company with generalist, real estate,
cars, jobs and other internet marketplaces in 16 countries, connecting buyers
seeking goods or services with a large base of sellers. Its portfolio spans 36
digital products and websites, attracting 1.5 billion average monthly visits.
Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios
in Spain, and 50% of fast-growing OLX in Brazil.
About L'Argus
Founded in 1927, Argus is a family and independent company and has been a
privileged partner of the car business professionals, and is permeated by a
culture of continuous evolution and innovation. Our growth and diversification
strategy has enabled us to develop a rich and varied product portfolio, intended
for professionals, including car manufacturers, distributors, dealers, auction
houses, etc. This range of unique services combines performance and simplicity,
and is 100% dedicated to greater commercial and financial efficiency. Today we
offer a range of services structured around five strategic directions: Argus
Information, Argus Valuation, Argus Solution, Argus Acquisition and Argus
Consulting. Because the world is changing and mutations are accelerating, we
must support our clients in these major evolutions and assist them in achieving
their own digital transformation. Today's Argus has 250 involved and committed
employees based in Paris, Nantes and Casablanca (Morocco).
Media contacts:
Adevinta
Mélodie Laroche
Corporate Communications
T: +33 (0) 6 84 30 52 76
[email protected] (mailto:[email protected])
Jo Christian Steigedal
Investor Relations
[email protected] (mailto:[email protected])
Leboncoin Group
Anne Quemin
Head of Brand and Communication
[email protected] (mailto:[email protected])
Caroline Grangié
Media Manager
[email protected] (mailto:[email protected])