Cars.com Expands Into Canadian Market With Acquisition of D2C Media

Cars.com Expands Into Canadian Market With Acquisition of D2C Media

November 2, 2023 — Cars Commerce (Cars.com) announced this morning it has acquired the Montreal-based D2C Media Inc., an automotive technology and digital solutions provider for the Canadian market.

The acquisition expands Cars’ footprint adding 1,000 Canadian dealerships to the 250 it currently has.

Cars paid USD $76 million in cash ($105 million CAD) at closing, using cash on hand and borrowings under the Company’s existing revolving credit facility. The deal could increase another $25 million ($35 million CAD) based on performance criteria.

The addition should be immediately accretive to Cars’ bottom line.

“The acquisition of D2C Media presents an exciting opportunity to expand Cars Commerce further across North America. With D2C Media’s deep local relationships and established infrastructure, we will be able to tap into a new market with dozens of OEMs and thousands of retailers to fuel accelerated growth,” said Alex Vetter, chief executive officer of Cars Commerce.

Based in Montreal, D2C Media was founded in 2003. Private equity firm Housatonic Partners acquired the company in 2019. Gino Coutu joined the company in 2012 and has served as executive chairman for the last year leading D2C and its 95 employees.

Cars recently rebranded to Cars Commerce as part of its strategy to bring an integrated technology platform that simplifies the car buying process to the industry.

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