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.
The company is a well‐established family business based in Oxfordshire with a loyal network of staff in the UK, India, and Spain. It provides a full portfolio of digital and cloud services to the technical services industry. Its principal activities...
The company is a well-established family business based in West Berkshire. It has a loyal network of repeat customers drawn from the UK, Ireland and the far east. As well as producing bespoke frost heave prevention systems, they also manufacture cond...
This independent financial advisory firm is jointly owned and are looking at business succession planning for when one of the directors decides to fully retire in 2-3 years’ time whilst the other director is looking to stay on post sale as an adviser...
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.