Pat Priestner buys Acura dealership
EDMONTON, ALTA. – AutoCanada chairman Pat Priestner has purchased Southview Acura in Edmonton through his holding company PPH.
The deal is separate from AutoCanada and its dealings.
PPH and a company controlled by Dave King will own 75 per cent and 25 per cent of the dealership respectively.
Southview Acura has been servicing the Edmonton area for over 14 years; it sold 485 new vehicles and 175 used vehicles last year.
“I am extremely excited about receiving Honda Canada's approval to add this Acura dealership to our group,” Priestner said in a release.
“We are very happy to have the opportunity to work closely with the King family and continue the legacy that they have built.”
This latest PPH deal comes roughly five months after it closed its acquisition of Whitby Oshawa Honda in southern Ontario last November. The Southview Acura deal also comes just weeks before Priestner moves to the non-executive chair of AutoCanada’s board of directors. The executive shuffle announced in March saw Steven Landry named CEO with Tom Orysiuk remaining as president.
Priestner, whose new role with AutoCanada becomes effective May 6, has a target retirement date of May 2017.