Barrie, Ont. businessman Jamie Massie, the longtime proprietor of Georgian Chevrolet Buick GMC, has offered the high-volume dealership north of Toronto to Canada One Auto Group.

The Edmonton-based dealership group stated Feb. 7 it had acquired the shop, located alongside a busy stretch of Ontario Freeway 400 on the south finish of Barrie, with out disclosing the monetary phrases of the deal.

The enterprise ranks amongst Canada’s largest Basic Motors dealerships, with quite a few gross sales awards to its credit score over the previous decade. Within the common yr, it “simply” sells greater than 2,000 new- and used-vehicles, in accordance with Samir Akhavan​, managing associate at purchase/promote advisory Templeton Marsh.

The Massie household acquired the Barrie dealership in 1981. On the time, it served Pontiac and Buick prospects. The shop has relocated and shuffled the manufacturers on its banner over the following 40 years.

Georgian Chevrolet additionally served because the launch level for Massie’s wide-ranging enterprise pursuits within the Barrie space, that are organized below Georgian Worldwide Ltd., an organization Massie co-founded and serves as CEO. Along with automotive retail, it has actual property growth and hospitality operations, and beforehand served the aviation business.

Amongst different entrepreneurial and community-oriented pursuits, Massie additionally as soon as owned the Ontario Hockey League’s Barrie Colts.

He couldn’t be instantly reached for remark.

Talks tied to the sale started in earnest final fall, in accordance with Akhavan, who brokered the cope with assist from Landon Robertson, director of company technique and enterprise growth at Templeton Marsh.

The acquisition formally closed Feb. 6, with each purchaser and vendor proud of the end result, Akhavan stated. In Canada One Auto Group, he added, Massie discovered a purchaser that was each a superb cultural match for the enterprise, and one that may proceed the household legacy.

“The timing was proper. As we’ve got all the time stated, on the appropriate day and for the appropriate worth, any supplier would promote. I feel for [Massie], the time was proper, and the value was proper.”

Akhavan wouldn’t touch upon the worth of the acquisition, however stated it’s the largest single-dealership transaction Templeton Marsh has carried out to this point. He estimated it’s also the largest single-store deal in Canadian auto retail historical past, although with most business transactions remaining non-public, agency knowledge just isn’t accessible.

Canada One Auto Group, which is helmed by CEO Patrick Priestner, owns 28 new-vehicle dealerships in 5 provinces following the acquisition.

CORRECTION: The headline of a earlier model of this story incorrectly recognized the dealership group that bought Georgian Chevrolet Buick GMC. Canada One Auto Group is the customer.