CanadaOne Auto has added a pair of dealerships to its fast-expanding Ontario footprint with the purchase of stores in two growing markets west of Toronto.
The dealership group announced Feb 2 that it had acquired Guelph Toyota and K-W Mitsubishi Motors. Terms were not disclosed.
The addition of the two franchises builds on a pair of CanadaOne acquisitions in Ontario last year and takes the group’s new-car store count over 30.
In February 2023, the Edmonton-based dealership group bought high-volume Barrie, Ont., dealership Georgian Chevrolet Buick GMC. It followed that deal up in September with the purchase of Toronto Honda and Toronto Kia.
CanadaOne’s latest Ontario deal “fortifies” its partnership with Toyota and gives the group its first Mitsubishi location, adding more diversity to its portfolio, the company said on its social media channels.
Guelph Toyota is in the Guelph Auto Mall at the west end of the city. K-W Mitsubishi is at the southern end of Kitchener-Waterloo, just off Highway 8.
Despite the change of ownership, top management at the two stores remains unchanged. Michael Tavares, general manager of both Guelph Toyota and K-W Mitsubishi, has agreed to stay in his role, CanadaOne said.