AutoCanada acquires Wellington Motors Limited
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EDMONTON, Alberta –
AutoCanada Inc. announced on Tuesday it has entered into an agreement to purchase all of the issued and outstanding shares of Wellington Motors Limited, which operates a Chrysler Dodge Jeep Ram Fiat dealership in Guelph, Ontario.
The transaction is expected to close within 21 days.
As part of the deal, AutoCanada will purchase the dealership’s land and 40,793-square-foot facility that includes a 12-car showroom and 16 service bays.
In 2015, the dealership retailed 968 new vehicles and 402 used vehicles, with an annual revenue of approximately $61 million.
“We are extremely pleased to welcome Wellington Motors into our Ontario dealer group. The dealership recently owned and operated by Ted and Mike Woods has a long history serving the Guelph community, recently celebrating its 75th anniversary,” said Steven Landry, chief executive officer of AutoCanada.
“We are thrilled to acquire such a flagship store in Ontario. The Woods family has been a staple in the Guelph community and AutoCanada intends to continue that strong tradition,” he continued.
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