Major Australian car dealer group Eagers Automotive Limited has struck a deal to acquire a 65 per cent stake in CanadaOne Auto Group and its affiliated entities.
Eagers has more than 400 OEM dealer agreements, representing 50-plus OEM brands, which stretches into New Zealand. Having entered into a definitive share purchase agreement with CanadaOne, the shareholders of CanadaOne can expect to become Eagers’ second largest shareholder.
“This partnership unites Eagers’ global automotive retail expertise and capital strength with CanadaOne’s award-winning operational excellence and deep local market relationships, creating one of the most dynamic growth platforms in the Canadian automotive sector,” said Pat Priestner, CEO of CanadaOne, in a statement.
The automotive retailer group will continue to be led by Priestner as CEO, along with the rest of the senior leadership team. Furthermore, its head office will remain in Edmonton, Alberta.
Priestner added that combining CanadaOne’s local knowledge with Eagers’ international retail expertise, resources and relationships, will allow them to build a platform for long-term, strategic growth and continued innovation.
“For us, and maybe many others in the Canadian automotive retail industry, this partnership provides a unique opportunity for Canadian dealerships considering succession and legacy by providing immediate capital depth, enabling accelerated investment in acquisitions, dealership infrastructure and digital retailing,” said Priestner in a statement.
The deal is expected to close in the first half of 2026.
