Automotive News Canada - June 2023 - 9

* JUNE 2023
9
Legacy staff helped seal the deal for North Bay store
'A lot of them have been
there for a number of years
. . . it just fits very, very well
for us and for our brand,'
401 Group exec said
By DAVID KENNEDY
T ORONTO BUREAU CHIEF
AN EXPANDING ONTARIO DEALERSHIP
group has taken a step toward " connecting
all the dots " in Northern Ontario
with the
acquisition
of Farquhar
ChryslerDodge-JeepRam,
its first
store in North
Bay, on
June 1.
The purLancaster:
The purchase
of Farquhar ChryslerDodge-Jeep-Ram
North
Bay is a " nice strategic
alliance " for 401 Group
of Companies.
SUPPLIED PHOTO
Sudbury, 130 kilometres west of North
Bay, said Ted Lancaster, the company's
executive vice-president of business
development and mergers and acquisitions.
Safety:
n/a
Scotiabank Lighthouse, 100 Yonge St., 5th
File: 2674802 Auto Innovation ad update
chase by 401
Group of
Companies
builds on its
strong presence
in the
southern part
of the province
and its
footprint in
" It fits well with our business, " which
now totals 19 new-vehicle dealerships in
Ontario, Lancaster told Automotive News
Canada.
The Cambridge, Ont.-based
group purchased a majority
interest in the store from Ryan
Farquhar, who retains a roughly
one-third share.
Financial terms of the deal
were not disclosed, though
Lancaster said it is " a nice strategic
alliance " that will help the
dealership grow.
Lancaster said that along with
the North Bay locale and nearly
25,000-square-foot (2,300-square-metre)
dealership facility, the long-tenured staff
stood out as one of the rationales for the
acquisition.
" A lot of them have been there for a
number of years, and with what we're
capable of doing and working with people
that have been in the community for a
long time, it just fits very, very well for us
and for our brand. "
Trim: 10.875 " x 7.375 " Colours: CMYK + PMS 186
Bleed: 0.125
The group operates mainly in smaller
markets, focusing on integrating new
sales techniques and lead generation technology
at the stores it acquires.
The North Bay deal follows a pair of
acquisitions that closed late last year and
added seven new-vehicle dealerships to
401 Group's portfolio. The company also
owns more than a dozen RV and powersports
stores across Ontario.
NEW OWNERS FOR FORD STORE AFTER 50 YEARS
A SOUTHWESTERN ONTARIO FORD
dealership changed hands and rebranded
this spring after nearly 50 years in business.
Grogan
Ford Lincoln in Watford,
250 kilometres west of Toronto, was
acquired by Perry Kantzas and
Mark Lensink earlier in the year,
according to Dealer Solutions
Mergers and Acquisitions
(DSMA), which brokered the sale.
The dealership, which opened
in 1976, was previously owned by
Larry and Bonnie-Jean Grogan.
The store moved to its current
location in Watford in 2014.
Financial terms of the deal
were not shared.
DSMA disclosed the acquisition in
June, but the rebranding process began
in April as the dealership migrated its
website to a new domain to reflect its
new identity. The store is now known as
Watford Ford-Lincoln.
GROUP CLINCHES HAT-TRICK PURCHASE
PERFORMANCE AUTO GROUP
has pushed into Ontario cottage country
with the acquisition of a three-store dealership
group in Huntsville, Ont., 250 kilometres
north of Toronto.
Floor, Toronto ON, M5C 2W1
Workfront#: 2674802
Insertion: -Deadline:
jan 2023
Designer: mb
The Brampton-based company, which
owns more than 30 new-vehicle dealerships
across several Toronto suburbs
and the Niagara region, acquired Drive
Muskoka Group in March, according to a
corporate social media post and a listing
from DSMA.
Huntsville Chrysler-Dodge-JeepRam,
Huntsville Honda and Hyundai of
Muskoka changed hands as part of the
deal. Drive Muskoka Group was headProd:
n/a
ed by local dealer Jason Armstrong.
Financial details of the transaction were
not disclosed.
The purchase is Performance Auto
Group's first foray outside Southern
Ontario.
DSMA, which brokered the deal, said
the transaction was a " strategic acquisition "
for Performance Auto Group that
will add another " quality dealership
group to their portfolio. "
OTTAWA GROUP GROWS TO 16 STORES
MYERS AUTOMOTIVE GROUP
has added a store to its growing portfolio
in the Ottawa area with the purchase of
Orléans Dodge-Chrysler-Jeep-Ram.
The dealership group, which focuses
on the Canadian capital, announced May
26 on its social media channels it had
acquired the store in the suburb east of
Ottawa. Terms of the deal were not disclosed.
Jim
Pears was the previous owner
of the dealership, according to DSMA,
which brokered the sale.
As part of the purchase, the store
was renamed Myers Orléans Jeep-RamDodge-Chrysler.
Myers Automotive
Group now owns 16 new-car dealerships,
all in and around Ottawa, including
three in Orléans. - ANC
SEND US YOUR BUY-SELL NEWS
Whether you're directly involved in a buy-sell
deal or have a tip, send an email to us:
david.kennedy@autonews.com
Moving the automotive
industry forward.
For over 65 years, Scotiabank has proudly brought new innovations to market to help automotive
dealers and their customers.
We're proud to introduce two new online products to the market:
* Scotia AutoHub is a web-based platform that allows dealers to electronically upload their
application documents, get timely notifications from Scotia on its progress, and view the
status of all their applications any time via a central dashboard.
* The E-Signature functionality within Scotia AutoHub enhances the process even further by
allowing dealers and their customers to complete the signing of documents from anywhere,
at any time, speeding up funding and providing a more seamless process for both dealers
and their customers.
Speak to your local sales rep for more information about this great new functionality.
® Registered trademark of The Bank of Nova Scotia.

Automotive News Canada - June 2023

Table of Contents for the Digital Edition of Automotive News Canada - June 2023