Mar 2022

Carvana Acquires ADESA

Carvana, the online used car marketplace, has agreed to buy Kar Global’s Adesa U.S. auction subsidiary for $2.2 billion in cash, an acquisition aimed at adding another revenue stream as well as a network of physical sites that could help bolster operations.

The transaction would give Carvana exclusive use of the ADESA.com marketplace in the U.S., plus all auction sales, operations and employees at ADESA’s 56 vehicle logistics centers in the country. It also would help expand the online retailer’s customer reach and increase its production capacity by an estimated 2 million vehicles per year, Carvana CEO Ernie Garcia said.