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AutoCanada wins approval to own Mercedes-Benz dealership

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, 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.

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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.

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About the Author
Auto and Steel Industry Reporter

Greg Keenan has covered the automotive and steel industries for The Globe and Mail since 1995. He also writes about broader manufacturing trends. He is a graduate of the University of Toronto and of the University of Western Ontario School of Journalism. More

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