Transportation

Carvana acquires Adesa’s US physical auction business for $2.2B

Image provided by Carvana.

May 10, 2022

Carvana, an e-commerce platform for buying and selling used cars online that offers a car vending machine, has acquired Adesa's U.S. physical auction business for $2.2 billion from KAR Global, consisting of 56 Adesa U.S. locations totaling approximately 6.5 million square feet of buildings on more than 4,000 acres, according to a press release.

"We aim to use this Adesa U.S. alignment to both improve the experiences of the Adesa U.S. physical auction customers and to focus on significant and sustainable efficiencies, and unit economic improvements, for Carvana to catapult back into rapid profitable growth as the industry inevitably rebounds," Ernie Garcia, Carvana founder and CEO, said in the press release.