Steele Auto Group has added another single-store purchase to its growing tally of dealership acquisitions in Canada and the United States this year with the buyout of King Mazda in Saint John, N.B.
The Dartmouth, N.S.-based dealership group with a growing presence in Atlantic Canada and Texas said it purchased its latest location from an unnamed seller Sept. 6.
Financial terms of the deal for the roughly 12,000 square-foot (1,100 square-metre) facility in Saint John were not disclosed.
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Company President Kim Day said Steele is pleased to welcome King Mazda’s employees to the wider group.
“As we continue to grow, so does our commitment to our employees, our customers, and our communities,” she said in a release.
King Mazda joins four other Saint John dealerships tucked under the Steele banner, including Fundy Honda, Saint John Nissan, Steele Chevrolet-GMC-Buick Saint John, and TriStar Mercedes-Benz. The Mazda location will retain its current name for the “foreseeable future” following the acquisition, Steele said.
The Canadian deal follows a busy summer for Steele in the Lone Star state. It purchased North Star Chrysler-Jeep-Dodge-Ram in San Antonio, Texas in July, as well as Sterling McCall Hyundai South Loop in Houston in June.
Steele now owns 57 new-car dealerships in Canada and the United States.
