Dealer Solutions Canada announced this week that another dealership transaction had completed via the purchase of Toronto Dodge Chrysler Ltd by AutoCanada Inc. As part of the agreement, Paul Stern, the previous owner of Toronto Dodge Chrysler Jeep will remain Dealer Principal (Stern originally acquired the store in 1986).
Besides owning and operating Toronto Dodge Chrysler, Stern has an extensive career as a dealer in the Ontario market. He was the previous owner of a number of dealerships including Parkwood Central Chevrolet in Toronto and another GM dealership in Markham Ont. He has also sat on the board of directors for the Trillium Automobile Dealers Association as well as being involved in a number of charities over the years.
With the completion of the Toronto Dodge Chrysler transaction by the Dealer Solutions team, Pat Priestner, Chairman and CEO of AutoCanada (the only publicly traded automotive group in Canada) officially took over the dealership. This acquisition is in addition to three other Toronto based dealerships that AutoCanada recently acquired.
Commenting on the transaction, Priestner said that AutoCanada was “very excited to add a Chrysler dealership to the existing three dealerships of our Toronto platform, an excellent market for auto retail. We look forward to servicing the loyal customers and to welcome all of the employees of Toronto Dodge to the AutoCanada family.”
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