AutoCanada Inc. has snapped up another dealership in Ontario, building on its growing portfolio in the province with the acquisition of Nurse Chevrolet Cadillac in Whitby, a suburb east of Toronto.
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The Edmonton-based group that now owns 67 new-vehicle stores in Canada and another 18 in the United States disclosed the purchase June 25. It did not share the terms of the deal, which also includes an adjoining collision centre.
AutoCanada said the busy location that covers 85,000 square-feet (8,000 square-metres) generates more than $80 million in annual revenue.
The dealership was previously owned and managed by Mary Nurse, whose father Bill Nurse opened the store in 1966.
AutoCanada Executive Chairman Paul Antony said the company “looks forward to proudly carrying their legacy into the future.”
“This acquisition adds a strong dealership with significant growth potential, bringing our Ontario dealership footprint to 23 locations,” he said in a release.
The store’s current management team will continue to operate the business following the ownership transition, AutoCanada said.
The purchase of Nurse Chevrolet Cadillac is the group’s first acquisition of 2024, but follows up on a series of deals for Ontario stores over the past several years, including the purchase of Premier Chevrolet-Cadillac-Buick-GMC in Windsor, Ont. in April 2023.
