Tue, 07 Jun 2016 | DIVISION SALE
Insurance giant esure has launched a strategic review into its price comparison website GoCompare less than two years after taking over the business.
Esure, which also owns well-known insurance brands such as Sheilas' Wheels, increased its stake in GoCompare to take over the entirety of the business for £95 million at the end of 2014. However, after only a year and a half, it is now thinking of selling off the division.
Esure values the business highly, predicting that the comparison site’s profitability should improve by 20 to 30 per cent this year following its increased focus on marketing and offering an expanded product range.
The timing of the strategic review comes on the back of preparations for an initial public offering (IPO) at chief rival Comparethemarket, which is valued by its owners BGL Group at £1 billion.
Both GoCompare and Comparethemarket are well known to British customers due to their high profile advertising campaigns — with GoCompare featuring the moustachioed opera singer Gio Compario and Comparethemarket featuring Eastern European meerkats alongside Hollywood superstars such as Arnold Schwarzenegger and Nicole Kidman.
In other news, GoCompare has just announced a new chief executive officer in the form of Matthew Crummack, who will take over from former boss Jon Morell. Mr Crummack has previously worked in senior positions at travel and hotel booking websites lastminute.com and Expedia.
For more information, see the latest businesses for sale.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.