CarGurus had acquired a 51-percent stake in CarOffer in 2021, a deal that came with the ability to buy the remaining interest over a three-year period one of the big draws for CarGurus, which runs an online auto marketplace as well, was CarOffer’s wholesale vehicle acquisition and selling capabilities. As a result, CarOffer chief executive Bruce Thompson will step down and CarGurus executive Zach Hallowell will lead CarOffer, although CarGurus will still operate Texas-based CarOffer as a standalone business. CarGurus to more quickly acquire rest of CarOfferĬambridge-based CarGurus has stepped up its timetable for acquiring the rest of CarOffer that it didn’t already own, unveiling a deal on Tuesday to spend $75 million to buy the remaining minority stakes in the online auto marketplace by the end of the year.
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