Prosus, the Amsterdam-listed investment arm of South Africa’s Naspers, has struck a deal to acquire French motors classifieds platform La Centrale for €1.1 billion ($1.3 billion), as its OLX unit accelerates efforts to cement itself as a dominant force in Europe’s e-commerce sector.
The purchase from U.S. private equity firm Providence Equity Partners is expected to close by year-end, according to Prosus.
The La Centrale deal comes just weeks after Prosus received EU approval for its €4.8 billion tie-up with Just Eat Takeaway, a merger that analysts say will create the world’s fourth-largest food delivery platform.
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“We expect to close that in the coming days,” said Fahd Beg, Prosus’ head of investments.
With La Centrale, Prosus is targeting another lucrative vertical: autos. OLX CEO Christian Gisy described the acquisition as “very much fitting into this overall strategy,” noting that La Centrale facilitated around 1.6 million vehicle sales last year — equal to roughly one-third of all used-car sales in France.
A Crowded Field of Rivals
The move places Prosus squarely against entrenched players like Norway’s Adevinta, which owns Leboncoin, France’s largest classifieds platform. Leboncoin has long dominated the French used-car market, and analysts say OLX’s acquisition of La Centrale represents an aggressive bid to carve out a bigger share of that market.
Germany’s AutoScout24, another heavyweight in online autos, has also been expanding across Europe, leveraging its pan-European footprint to attract both dealers and private sellers. While AutoScout24 and Leboncoin are household names in their home markets, La Centrale has remained a more focused, cars-only specialist — a niche Prosus now wants to scale with fresh capital and AI-driven tools.
Amid intense competition in the European autos classifieds sector, Prosus is believed to be betting that its global OLX playbook, combined with La Centrale’s brand strength in France, will allow it to chip away at the dominance of Leboncoin and AutoScout24.
J.P. Morgan notes that the acquisition will also improve the cash profile of Prosus’ e-commerce portfolio.
A Bid for Scale and Profitability
OLX, already one of the world’s largest classifieds operators, reported an 18% increase in annual revenues to $777 million in June. It is targeting revenue growth of at least 20% and a core earnings margin of 50% within the next two to three years.
Prosus says La Centrale will help meet those targets while improving the overall cash profile of its e-commerce portfolio, which has sometimes struggled with profitability despite rapid growth. J.P. Morgan agreed, noting in a research note that the deal “strengthens Prosus’ cash-generating base while diversifying its exposure.”
Betting on Technology
Prosus CEO Fabricio Bloisi signaled that the company plans to invest heavily in digital innovation around the new platform.
“I expect to invest more in AI technology in France,” he said, adding that AI could improve everything from fraud detection to vehicle pricing algorithms.
That push aligns with Prosus’ broader strategy of building scale across multiple e-commerce verticals. The company is now positioning itself as a direct challenger not only to European auto platforms but also to diversified classifieds giants like Adevinta, which has been consolidating its own global portfolio.
Consolidation Wave
The deal is the latest in a wave of consolidation sweeping through Europe’s e-commerce and classifieds markets. Adevinta, for example, recently sold non-core assets to sharpen its focus on core geographies, while AutoScout24 has pursued bolt-on acquisitions to strengthen its dealer network.
For Prosus, these moves are also about investor confidence. The company, which still trades at a steep discount to the value of its Tencent stake, has been under pressure to demonstrate growth outside of China. Prosus is building a diversified, pan-European e-commerce empire by pairing the Just Eat merger in food delivery with La Centrale in autos.
The OLX’s take on entrenched rivals in Europe’s online auto space is expected to be tested by Prosus’ ability to convert scale into sustained profitability — a challenge its competitors have been grappling with for years.