JOHN PYE ACQUIRES SPAIN SITE AS PART OF EUROPE EXPANSION

Added by Love Business East Midlands | 26 July 2022

The UK’s largest auction house network John Pye Auctions has announced the acquisition of a new site in Zaragoza, Spain, as part of its wider Europe expansion plans.

The new 156,292 sq ft site, which is located in Bisimbre, will be the auctioneer’s first move into the European market and is expected to be fully operational by September – creating up to 80 jobs within the first 18 months.

John Pye has been planning a European expansion for some time and set its sights on Zaragoza in Spain due to the auctioneer’s existing clients already having distribution networks in place. This coupled with the increasing shipping costs to Europe from the UK cemented the decision for the purchase.

The expansion also follows a successful period for the business, after seeing a 29.8% growth in revenue since November.

Managing director, Adam Pye, said:

“This is a huge step forward for John Pye Auctions, we were previously trialling mainland Europe and to now be in this position is incredible for the business and the team.

“The feedback from clients already has been overwhelming and I’d like to thank everyone involved and good luck to those who has supported in new venture up and running. This is a historic move for the company, without any external financial support, and it’s a credit to our team, our clients and our ethos.”

The next phase of John Pye’s plans will see the business procuring space in neighbouring European countries, as well as launching a new European bidding website.

Toby Moore, who will be running the new site in Zaragoza, said:

“We’ve been on a fantastic journey to acquire the site and get everything in preparation for operation.

“It’s an exciting time for the business and I’m proud to be a part of this next phase. Myself and the team look forward to being the driving force for John Pye Auctions in Spain.”  

Assets for resale are expected to start arriving to the site in early September. For more information about John Pye Auctions, please visit: www.johnpye.co.uk/

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