Real estate franchisor Royal LePage has upped its profile in Quebec, announcing Tuesday it has acquired Le Groupe Trans-Action, a Montreal-based real estate company.
While terms of the deal were not released, Toronto-based Royal LePage said the move represents the company's largest franchise acquisition since its purchase of Realty World Canada in 1997.
Le Groupe Trans-Action is a prominent real estate franchisor in Quebec with more than 80 locations.
"This transaction enables us to expand our presence within Quebec and simultaneously increases our franchise network to over nine thousand agents and sales associates coast-to-coast," Philip Soper, president of Royal LePage, said in a statement.
Royal LePage said Marcel Imbault, president, Le Groupe Trans-Action, will continue his job under the new title executive vice-president.
"This transaction presents significant new market opportunities for franchisees and sales associates of both organizations through greater exposure across Canada and specifically within the province of Quebec," said Andy Puthon, executive vice-president, network development, Royal LePage.
It may enable some franchisees to grow by merger while allowing others the opportunity to select the brand that is best suited to their marketplace."