A Quebec-based dealership group centered on the luxurious and efficiency segments has made its first foray into California with the acquisition of Ferrari South Bay within the Greater Los Angeles Area.
Holand Automotive Group, which owns a dozen different high-end dealerships in Quebec and Florida, mentioned the acquisition is the subsequent step in its U.S. development technique.
“Having Ferrari South Bay as part of our portfolio of marquee brands will allow us to focus on growth and to slowly expand our footprint in the [United States],” firm CEO Gad Bitton mentioned in a launch.
Financial phrases of the deal, introduced July 4, weren’t disclosed.
The Torrance, Calif., retailer is Holand’s second Ferrari location. It additionally owns Ferrari Quebec in Montreal. The dealership group represents different high-end manufacturers resembling Rolls-Royce, Lamborghini, BMW and Maserati at areas, a number of of them shared, throughout Quebec City, Montreal and Palm Beach, Fla.
Ferrari South Bay was beforehand owned by Mattioli Automotive Group, which constructed the dealership in 2014. Holand mentioned Eddie Brodsky, the shop’s longtime basic supervisor, together with the “experienced” gross sales and repair workers will keep on following the acquisition.
Along with its sequence of luxurious shops, Holand Automotive operates a leasing division, and final summer time, bought Circuit Mont-Tremblant, a racetrack within the resort city northwest of Montreal.
Source: canada.autonews.com