Report: Kelley Blue Book up for sale

Article by Christian A., on September 10, 2010

Sources say that Kelley Blue Book, the California-based authority on used-car values, is for sale, according to a Financial Times report that was cited by a News York Times blog. The report comes from two unnamed bankers who claim to have knowledge about the potential sale.

One banker said that JPMorgan was hired to manage the sale while the other banker revealed that Kelley Blue Book has been valued at between $500 million and $1 billion.

It was in 1926 that the first edition of the Kelley Blue Book was published; however, founder Les Kelley had been producing a list of automobile values since 1918.

The book continued to be owned by the family until 2000. The Blue Book, which at first was published for auto dealers, started a consumer edition in 1993 and it had its Web site kbb.com in 1995.

According to The Financial Times, a third banker held the opinion that the decision to sell the company was influenced by a recent lack of traffic to the company's Web site and an increase in capital gains taxes.

Various reports claim that the top bidders for Kelly are AutoTrader.com, Kohlberg Kravitz Roberts & Co., eBay and Google. Kelley Blue Book and JPMorgan have yet to comment on this report. [via autonews - sub. required]

Topics: united states

If you liked the article, share on:

Comments

Recommended

Earlier this week, Nissan revealed a teaser of the new 2018 LEAF’s interior, giving us an idea of what the electric vehicle has to offer. The company released a video...
by - June 25, 2017
The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries