CarGurus, Inc. completed the acquisition of remaining 49% stake of CarOffer, LLC from Health Diagnostics LLC, John Paul DeJoria Family Trust, LLC, ORIENT EXPLORATION, LLC, Schnitzer Interests, Ltd., WONRAC, for $75 million.
December 30, 2023
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CarGurus, Inc. (NasdaqGS:CARG) entered into membership purchase agreement to acquire remaining 49% stake of CarOffer, LLC from Health Diagnostics LLC, John Paul DeJoria Family Trust, LLC, ORIENT EXPLORATION, LLC, Schnitzer Interests, Ltd., WONRAC, LLC for $75 million on November 6, 2023. Upon consummation of the Transaction (the ?Closing?), the Company will acquire the remaining interest in CarOffer that the Company does not presently own for an aggregate consideration of $75 million in cash, subject to certain adjustments set forth in the Purchase Agreement. The Closing is subject to customary closing conditions and regulatory approval and is expected to occur in the fourth quarter of 2023. Nathan E. Hagler and Robert E. Bishop of Goodwin Procter LLP acted as legal advisor to CarGurus, Inc. Randall G. Ray of Munck Wilson Mandala, LLP acted as legal advisor to CarOffer, LLC.
CarGurus, Inc. (NasdaqGS:CARG) completed the acquisition of remaining 49% stake of CarOffer, LLC from Health Diagnostics LLC, John Paul DeJoria Family Trust, LLC, ORIENT EXPLORATION, LLC, Schnitzer Interests, Ltd., WONRAC, LLC on December 1, 2023.
CarGurus, Inc. (CarGurus) is a multinational, online automotive platform for buying and selling vehicles that offers both digital retail solutions and the CarOffer digital wholesale platform. The CarGurus platform enables consumers to buy and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, instantly acquire, effectively market, and quickly sell vehicles, all with a nationwide reach. The Company operates through two segments: U.S. Marketplace and Digital Wholesale. The U.S. Marketplace segment provides marketplace services for customers within the United States. The Digital Wholesale segment provides Dealer-to-Dealer and Instant Max Cash Offer (IMCO) services and products which are sold on the CarOffer platform. The Company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. It also operates the Autolist and PistonHeads online marketplaces in the United States and the United Kingdom.
CarGurus, Inc. completed the acquisition of remaining 49% stake of CarOffer, LLC from Health Diagnostics LLC, John Paul DeJoria Family Trust, LLC, ORIENT EXPLORATION, LLC, Schnitzer Interests, Ltd., WONRAC, for $75 million.
CARGURUS, INC. 
