EDMONTON, Oct. 13, 2017 /CNW/ - AutoCanada Inc. (TSX: ACQ),
one of Canada's largest multi-location automobile dealership
groups, today announced that it has entered into an agreement to
purchase 90% of the issued and outstanding shares of Planète Mazda,
which has operated in the greater Montréal region for close to 30
years.
The acquisition is the first Mazda dealership for AutoCanada and
becomes its 23rd brand. Planète Mazda is located a short
distance from Montréal on the north shore in Mirabel, bringing the number of AutoCanada
dealerships in the region to four.
"This is a very important acquisition for AutoCanada," said
Steven J. Landry, President &
CEO of AutoCanada Inc. "The Loiselle family has established a
strong presence in the area and we look forward to partnering with
Sylvain Loiselle and the entire
Planète Mazda team to accelerate their growth. The acquisition
marks the addition of a new brand to our portfolio and the start of
our relationship with Mazda Canada.
It advances our strategy of adding new brands in metropolitan areas
to expand and diversify our dealer network and drive sustainable
long-term growth."
"Mazda is pleased to welcome AutoCanada to our group of
dealers," said Dave Klan, Senior Director, Sales, Marketing
& Regional Operations of Mazda Canada Inc. "It is
acquiring a well-performing dealership in a key market for us. The
Loiselle's have built a wonderful facility and have been an
important part of the Mazda family in Canada for years. With Sylvain Loiselle remaining as dealer principal,
as well as the addition of a talented team at AutoCanada, we
see great things ahead for Mazda with this change in
ownership."
As part of the transaction AutoCanada will lease the Dealership
lands, including a 35,000 square foot facility, 18 car showroom and
22 service bays. In 2016, the Dealership retailed 1,059 new
and used vehicles. The transaction is subject to customary closing
conditions and approvals and is expected to close within 30
days.
About AutoCanada Inc.
AutoCanada is Canada's largest volume automobile dealership
group; currently operating 57 franchised dealerships, comprised of
65 franchises, in eight provinces and has over 4,500 employees.
AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa
Romeo, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan,
Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, Kia, BMW, MINI,
Mercedes-Benz, and Smart branded vehicles. In 2016
with $2.9 billion revenue, our dealerships sold
approximately 60,000 vehicles and processed approximately 864,000
service and collision repair orders in 928 service bays.
Additional Information
Additional information about AutoCanada is available at the
Company's website at www.autocan.ca and www.sedar.com.
SOURCE AutoCanada Inc.