AramisAuto is accelerating internationally. The specialist in online sales of used cars has just bought Cardoen, one of the leading independent car distribution in Belgium: a company that, with 160 million euros of turnover and 160 employees (of which more than 100 are integrated and the others in its 13 points of sale franchisees), will allow him to suddenly increase his size by one third. “This acquisition is part of our international development strategy: we want to be the reference brand for the acquisition of cars by Europeans,” insists Guillaume Paoli, co-founder of the young company with Nicolas Chartier.
Reconditioning plant
Acquired for “several tens of millions of euros”, Cardoen is a very profitable company for the sector, with a gross operating surplus of 4 %. “It’s showing double-digit growth, and we hope to help it continue to grow, including our expertise in online sales and the sale of older used vehicles,” says the entrepreneur. . AramisAuto has invested in a repackaging plant in the Drôme, where she retires vehicles aged 5 to 7 years that she then sells with a guarantee. “We are going to study whether it is appropriate for Cardoen to use this capacity,” he says.
70% owned by PSA since October 2016 , AramisAuto had already made a first acquisition in Spain in April 2017, with the startups Madrid’s Clicars, also specialized in selling cars online. It intends to continue its international deployment, once integrated Cardoen, aiming for a turnover of one billion euros in five years. The company, which employs more than 500 people, generated 434 million euros in revenue for the year ended September, thanks to the sale of 36,000 cars. “We are profitable, but less than Cardoen …”, says Guillaume Paoli, which forecasts a 15% growth of its activity for the current year.