KAR Global, a provider of digital marketplace solutions for used vehicles, completed its sale of the Adesa U.S. physical auction business to Carvana.
The sale, originally announced in February, includes all Adesa U.S. physical auction sites, operations and staff at 56 Adesa U.S. vehicle logistics centers and exclusive use of the www.adesa.com marketplace in the U.S.
KAR will continue to operate its Openlane platform that supports more than 40 private label programs representing approximately 80 percent of North America’s off-lease inventory. KAR will also continue operating its rapidly growing digital dealer-to-dealer businesses – BacklotCars and CARWAVE in the U.S. and TradeRev in Canada. In addition, the company will retain its Adesa Canada, Adesa U.K. and Adesa Europe businesses as well as its affiliated inspections, transportation and other services brands, including leading floor plan solutions provider AFC.
Published in the June 2022 Edition