Planète Mazda deal is expected to close within 30 days.
AutoCanada has entered into an agreement to purchase 90% of the issued and outstanding shares of Planète Mazda, located near Montreal, Quebec. The acquisition is the first Mazda dealership for AutoCanada and becomes its 23rd brand.
“This is a very important acquisition for AutoCanada,” said Steven J. Landry, President & CEO of AutoCanada. “The Loiselle family has established a strong presence in the area and we look forward to partnering with Sylvain Loiselle and the entire Planète Mazda team to accelerate their growth. The acquisition marks the addition of a new brand to our portfolio and the start of our relationship with Mazda Canada. It advances our strategy of adding new brands in metropolitan areas to expand and diversify our dealer network and drive sustainable long-term growth.”