The 401 Staff of Firms has taken some other step towards “connecting all the dots” in Northern Ontario with the June 1 acquisition of Farquhar Chrysler-Dodge-Jeep-Ram, its first bundle in North Bay.
The acquisition builds at the dealership team’s robust presence within the southern a part of the province and its footprint in Sudbury, stated Ted Lancaster, the corporate’s government vice-president of industrial construction, and mergers and acquisitions.
“It fits well with our business,” which now totals 19 new-vehicle dealerships in Ontario, Lancaster instructed Car Information Canada.
The Cambridge, Ont.-based dealership team bought a majority pastime within the bundle from proprietor Ryan Farquhar. Monetary phrases of the offer weren’t disclosed.
Together with the North Bay locale and just about 25,000 square-foot (about 2,300 square-metre) dealership facility, Lancaster stated the bundle’s long-tenured group of workers stood out as one of the most rationales for the purchase.
“A lot of them have been there for a number of years, and with what we’re capable of doing and working with people that have been in the community for a long time, it just fits very, very well for us and for our brand.”
The dealership team operates basically in smaller Ontario markets, specializing in integrating up-to-date gross sales tactics and govern month era on the shops it acquires.
The North Bay offer follows a couple of acquisitions that closed past due endmost moment and added seven new-vehicle dealerships to the 401 Staff’s portfolio. The corporate now owns 19 new-car dealerships, in addition to greater than a lot RV and powersports shops throughout Ontario.
