One of Canada’s largest dealership group is getting into the U.S. market with the acquisition of a luxurious dealership in Sterling, Va., on the outskirts of Washington D.C.
The Dilawri Group of Cos. in Toronto stated it bought Ferrari of Washington-Maserati of Washington for an undisclosed worth, marking its “first strategic expansion” exterior Canada.
The transaction closed final week and the dealership will retain its identify, stated Virginie Aubert, a spokeswoman for the group, in an e-mail to Automotive News.
The two dealerships are housed in a single constructing, however have separate entrances. The Ferrari facet just lately wrapped up renovations, she stated.
“We imagine these dealerships can be a superb alternative to determine our presence within the U.S. market,” Kap Dilawri, the corporate’s co-founder, stated in a press release.
The two dealerships sit on a 4-acre web site, with an adjoining storage lot that may maintain greater than 200 autos, Aubert stated. The acquisition additionally provides the 2 manufacturers to its portfolio, she stated.
The vendor of the dealerships wasn’t instantly obtainable. But Aubert confirmed that the shops’ former supplier principal Chris Berlin was not with both dealership.
Berlin was named in 2018 by Automotive News as a 40 Under 40 honoree. He then was director of operations for a 13-store group in California and the Washington D.C. space.
Dilawri, the privately owned Canadian dealership group, now has greater than 75 franchised dealerships within the U.S. and throughout 5 Canadian provinces.
Dilawri joins a rising listing of Canadian dealership teams shifting their consideration to increasing within the United States. Among others, Foundation Automotive, Knight Automotive Group and Steele Auto Group have every just lately added to their U.S. footprints.
Source: www.autonews.com
