Carsales strikes gold with The Red Book

They're at the two ends of the same spectrum. Carsales, always a web/IT-focused business, recently celebrated ten years of assisting customers to buy and sell cars online.

The Red Book story began over fifty years ago, in a highly labour-intensive publishing operation that targeted professional motor car traders.

Both companies have formed a close co-operative relationship in recent years, with Carsales relying on The Red Book for the provision of accurate and comprehensive used car data.

Now, the relationship between the two companies is as close as it can get, following the announcement that Carsales is acquiring The Red Book.

"Our investment in Red Book is a good strategic fit in a complementary business. carsales.com.au is the clear number one Australian automotive website and Red Book is a market leader in the supply of vehicle identification and pricing information," Carsales Managing Director and CEO Greg Roebuck said.

Managing Director of The Red Book, Les Groves, has overseen the company's ambitious expansion into South-East Asia, establishing offices in New Zealand, Thailand, China, Malaysia and Singapore.

Mr Groves will continue in his role as MD and the company, with a staff of 35 will remain quartered in the current premises in Sydney's Surry Hills.

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