Holand Automotive Group has expanded its leasing business through the acquisition of part of the John Scotti Leasing Inc. portfolio, a move that underscores the growing importance of leasing operations as dealership groups diversify their revenue streams and strengthen long-term customer relationships.
Announced Aug. 3, the transaction sees Holand Leasing acquire the portion of the portfolio that aligns with its ultra-luxury business model and the brands it represents. Financial terms were not disclosed. The remaining assets in the John Scotti Leasing Inc. portfolio continue to be managed through the court-supervised receivership process.
As competition for new and used vehicle sales continues to evolve, leasing has become an increasingly important part of many retailers’ long-term growth strategies. Rather than purchasing the entire portfolio, Holand said it worked with the receiver to identify leases that best complement its existing business and client base.
“On behalf of our entire group, we are very pleased and proud to welcome the clients who are joining the Holand family through this transaction,” said Gad Bitton, President and CEO of Holand Automotive Group. “This acquisition reflects our conviction in the ultra-luxury segment and our commitment to serving it with the flexibility, discretion, and level of service our clients deserve.”
Holand said it will honour existing lease agreements and work directly with customers to ensure a seamless transition.
Holand Automotive Group operates luxury and ultra-luxury dealerships in Canada, the United States and Europe, representing brands including Ferrari, Rolls-Royce, Lamborghini, McLaren, Maserati, BMW, MINI, Aston Martin and Lotus. The company said it will continue evaluating acquisition opportunities that align with its long-term business strategy.
