Bristol-based Vans 365 has been acquired by Cazoo in a deal that takes Europe’s leading online car dealer into the commercial vehicle retail market for the first time.
Vans 365 was set up in 2012 as Van World Group and changed its name in 2018. At the same time it used a six-figure loan from Barclays to buy a two-acre former haulage site at Whitchurch, where it now stocks around 250 new and used vans. 
It has since become one of the UK’s fastest-growing online commercial vehicle retailers with an expected turnover for 2021 of around £14m with a margin of 9%.
Cazoo, one of Europe’s fastest-growing businesses, is paying £6.5m in cash to acquire the business.
Cazoo, which has sold more than 40,000 cars online since its launch in 2018, said the takeover was subject to FCA approval, the decision being anticipated in the coming weeks.
Vans 365 founder and managing director Jordan Franklin, pictured, seated in van, with Jason Grail of Barclays, said: “Like Cazoo, customer obsession is at the heart of Vans365’s success and we’re delighted to be joining the Cazoo team to take our online proposition to the next level.
“We have built strong supply relationships and achieved excellent customer feedback with a great team who have strong sector expertise and are looking forward to joining forces with Cazoo.” 
Cazoo, which has a mission to make buying and selling a car as simple and seamless as ordering any other product online, said the deal would combine its world-class platform and brand with Vans 365’s expertise and relationships in the commercial vehicle market.
This would enhance its customer offering and team and accelerate its planned launch into buying and selling commercial vehicles online later this year.
Cazoo founder and CEO Alex Chesterman OBE – whose previous ventures have included Zoopla and LoveFilm – said: “The market for commercial vehicles is worth £16bn annually, with over 1m vans sold each year in the UK, which expands our addressable market and is a natural product extension for us.
“The acquisition of Vans 365 will accelerate our planned launch of buying and selling commercial vehicles online later this year and will enhance both our customer proposition and team and I look forward to welcoming the Vans365 team to Cazoo.”
Thirteen months ago Cazoo opened its first base in Bristol by converting the former Imperial Cars used car showroom on Bath Road, Brislington, into a distribution and customer hub.
The firm invested £1m in the site, creating a centre that gives car buyers the option of collecting their vehicle instead of home delivery, along with MOT and servicing.
