Carvana Acquires ADESA U.S. Physical Auction Business from KAR Global
May 10, 2022
Carvana has acquired the ADESA U.S. physical auction business from KAR Global for $2.2 billion, including 56 U.S. auction locations, approximately 6.5 million square feet of buildings and related operations and staff. The deal gives Carvana expanded physical auction and vehicle logistics capacity to support its retail marketplace while allowing KAR to focus on its digital marketplace strategy.
- Buyers
- Carvana
- Targets
- ADESA U.S. physical auction business
- Sellers
- KAR Auction Services, Inc. (d/b/a KAR Global)
- Industry
- Transportation
- Location
- Indiana, United States
- Transaction Type
- Buyout
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