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Adevinta’s Leboncoin to acquire French insurance firm Argus Group

Author : Pankaj Singh | Published Date : 2019-09-10 
  • The acquisition would benefit the Leboncoin Group, subsidiary of Adevinta, to bolster its dominance on the French automobile market.
  • The deal is expected to be closed by the end of October 2019.

Adevinta, a renowned online classifieds company, has recently announced that it has inked a deal to acquire the Argus Group, a French-based company that has expertise in various sectors like the automotive industry and digital marketing services, which would further boost its Leboncoin Group.

For the record, Leboncoin Group is one of the leading online marketplace for property, cars and jobs in France and the best one peer-to-peer website provider in the nation. The company continues to maintain its dominance in the automotive sector in France, and has recently acquired PayCar.

Apparently, with this acquisition, Leboncoin Group will benefit from Argus’ active presence in the professional market for second-hand car trade and expertise, especially with the French company’s flagship product, a pricing tool for second-hand vehicle which is the best player in the French market.

Leboncoin Group is also planning to develop the Argus’ activities along with its and Adevinta Group’s objectives, particularly by progressing international expansion within Adevinta’s footprint and by accelerating digitization.

Speaking on the announcement, Rolv Erik Ryssdal, CEO, Adevinta, said that the company will engage in M&A activity to bolster its place in markets, where they are already dominating, and their firm is persistent in maintaining that commitment.

He added that the company has seen increasing growth in their major sectors like jobs, property and cars and the acquisition of the Argus Group strengthens their position in the French car market segment.

As per Alexandrine Breton des Loÿs, President, L’Argus Group, their firm chose leboncoin, a leader in classified ads and data in France, as it shares similar vision for its businesses and is more inventive in serving its customers.

Source Credit: https://www.adevinta.com/news/adevinta-announces-that-leboncoin-group-has-reached-an-agreement-to-acquire-argus-group/

 

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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