INTERNATIONAL automotive business Optimus Group is to buy the controlling stake in New Zealand’s Auto Trader Media Group, owners of Autotrader.co.nz which is one of the country’s leading automotive sales websites.

The investment is the first for Optimus in a digital platform which will extend its range of services.  

The NZ purchase follows the recent conclusion of its $270.56 million purchase of the Autopact Group which operates 28 dealerships and represents 35 brands in Queensland, New South Wales and Victoria

Darren Bowler

Headquartered in Japan and listed on the Tokyo stock exchange Optimus has interests in Australian, Japanese and New Zealand businesses.

The current owners of Auto Trader Media Group, Ross Logue and Richie East, acquired the business from Bauer Media in 2019 under a management buy-out. At that time the site listed around 23,000 cars per month and had a limited online presence. 

Today, following a rebuild of the website earlier this year, there is now an average online listing of 44,000 cars available to purchase each month. 

Optimus said that the growth was evidence of strong ongoing demand and reflects the success of the execution of Auto Trader’s transition from print to online.

Optimus Group chief business development officer Darren Bowler said Auto Trader was an iconic publishing brand in New Zealand.

“Ross and Richie understood the title’s potential when they acquired it and have now successfully transitioned the magazine’s 40-year legacy as the ‘Car Bible’, into what is now the trusted place for buying and selling cars online,” he said.

In New Zealand, Optimus has automotive sector investments covering trading, logistics, inspection and other services. In Australia its interests cover data, logistics and retailing. 

Optimus Group is listed on the Tokyo market with a capitalisation of $A454 million and this week saw its shares hit $A28, the highest since listing in December 2017.  

The agreement to buy 51 per cent of Auto Trader Media Group consolidates Optimus presence in the New Zealand market and aligns with the Group’s global strategic direction, allowing it to deliver an even wider range of services to consumers, enhancing their automotive sales and purchase experiences.

Optimus Group Co Ltd president Nobuya Yamanaka said the company offers a full range of end-to-end automotive solutions in the three markets in which it operates.

“Auto Trader is a trusted digital platform that will provide the group with an opportunity to deliver improved levels of customer services to the New Zealand automotive sector in line with our growth ambitions,” he said.

The acquisition rounds out a busy couple of months for Optimus Group. Last month it finalised the acquisition of Autopact, one of Australia’s largest privately owned automotive dealership groups. 

The company said the latest acquisition is completely separate from the 20 per cent stake Optimus took in used-car group OzCar in November 2021. Optimus’ stake in OzCar has since been raised to 30 per cent and the used-car group has also expanded to 20 outlets from the 15 it had in 2021.

Optimus bought the Autopact shares held by majority owners Archer Capital and John Eastham.