AutoCanada Inc. announced that it will be purchasing another Ontario-based dealership, Guelph Hyundai.
The deal, expected to close within 30 days, will acquire the dealership and the 29,000 plus square foot facility with a 14 car showroom and 14 service bays. The facility was constructed in 2014 and was the first Hyundai dealership in Canada to reflect the new company’s Global Dealership Space identity program, according to a news release from AutoCanada.
The dealership sold 673 new vehicles, 173 used vehicles and earned approximately $31 million in revenue in 2015, according to the company. “We are extremely pleased to welcome Guelph Hyundai into our Ontario dealer group,” said Steven Landry, Chief Executive Officer of AutoCanada. “The dealership recently owned and operated by Graham Dennis has a long history in the Guelph community, serving their customers for decades. AutoCanada is pleased to add to our cluster dealership model in the Guelph area and increase our business in Ontario.”
A publicly-traded company, AutoCanada operates 54 franschised dealerships, with 62 franchises in eight provinces and has more than 3,800 employees. Collectively, in 2015, the dealerships sold approximately 62,800 vehicles and processed approximately 848,000 service and collision repair orders in its 912 service bays.
