Kavak Merger with Checkars

August 26, 2020Client News

Gunderson Dettmer represented client Kavak in its merger with Checkars, an online marketplace for secondhand automobiles. With the merger Kavak will be expanding from Mexico into Argentina.

In the announcement of the transaction, Kavak also disclosed it will invest $10 million in Argentina. CEO Carlos Garcia’s plan is to offer 20,000 used autos in Mexico in the next 12 months, up from 2,000 now available, as the company’s sales recovered to pre-pandemic levels in June and began to pull even higher in August.

The Gunderson deal team was led by Dan Green and included Jim Hauser, Brad Krack, Lily Kim, Jesse Mosier, Megan Canepari, Cameron Jahansouz, André Lee, Tanya Tarczynski and Phuong Quinby.