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2013-10-14 14:30

LOCAL IS LEKKER: Autotrader.co.za has announced the company is now owned by local stakeholders. Image: Autotrader

Vehicle-sales print and online magazine AutoTrader SA has been bought out by South African shareholders.

The company's CEO, George Mienie, said: "The business which has been run by South Africans for more than two decades is now also owned by South Africans."

The four local shareholders members of the AutoTrader.co.za management team and a mid-market private equity company.

LOCALLY-OWNED

Autotrader.co.za offers vehicle buyers and sellers access a large audience in South Africa and has transformed from a print operation into an internet company. Online platforms include a fixed website, mobile website, mobile consumer applications as well as dealer website and mobile applications.

Paul Salomon of Stockdale Street said: “Auto Trader is one of the most-recognised and valued brands in the South African automotive market. We look forward to growing the business with our new partners."

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