Steele Auto Group, one of the largest dealership groups in Canada, is expanding its footprint in Newfoundland and Labrador with the purchase of Humber Motors Ford.
The deal for the store was finalized late Monday.
Steele, headquartered in Dartmouth, N.S., bought the dealership from Pluto Investments Inc. Financial details of the transaction were not disclosed.
Pluto Investments, based in St. John’s, NL, had bought the dealership in 2012. A few years later, it eventually moved the store from its original location of more than 50 years to a new site.
Steele Auto Group COO Kim Day called the deal an important one.
“It enhances our footprint in the Corner Brook market where we operate City Chrysler, Parkway Hyundai and Fairway Honda,” she said in a statement.
Prior to it being sold to Pluto Investments, Humber Motors Ford had been owned by local businessman Derek Young for 35 years.
Steele Auto Group is comprised of 51 auto dealerships, three Powerhouse Equipment stores and nine collision centres, and employs more than 2,000 people.