Go to the Globe and Mail homepage

Jump to main navigationJump to main content

AdChoices
AutoCanada Inc. has signed a deal to buy a Montreal-area Mercedes-Benz dealership. (Fred Lum/The Globe and Mail)
AutoCanada Inc. has signed a deal to buy a Montreal-area Mercedes-Benz dealership. (Fred Lum/The Globe and Mail)

AUTO

AutoCanada wins approval to own Mercedes-Benz dealership Add to ...

AutoCanada Inc. has signed a deal to buy a Montreal-area Mercedes-Benz dealership, giving the publicly traded dealership group its first franchise with a key luxury auto brand.

Mercedes-Benz Canada Inc. had previously banned ownership of its dealerships by publicly traded companies and AutoCanada lost out on the bidding for a Mercedes-Benz store in Ontario last year.

The deal to buy Mercedes-Benz Rive-Sud expands AutoCanada’s footprint among luxury auto makers, which are among the fastest-growing brands in the Canadian market and are expected to continue to grow.

The purchase of the 50-year-old Montreal area franchise increases AutoCanada’s dealership count in Canada to 57 and the number of brands it represents to 20.

Edmonton-based AutoCanada acquires a “compelling growth opportunity that will enhance our brand mix,” the dealership company’s president Steven Landry said in a statement Tuesday.

Report Typo/Error

Follow on Twitter: @gregkeenanglobe

 
  • AutoCanada Inc
    $23.03
    -0.03
    (-0.13%)
  • Updated April 21 4:00 PM EDT. Delayed by at least 15 minutes.

More Related to this Story

Topics

Next story

loading

Trending

loading

Most popular videos »

More from The Globe and Mail

Most popular