Canada’s Dilawri Group buys Ferrari-Maserati dealership in suburban Washington, D.C.

0

One of Canada’s largest dealership group is stepping into the U.S. market with the acquisition of a luxury dealership in Sterling, Va., on the outskirts of Washington D.C.

The Dilawri Group of Cos. in Toronto said it purchased Ferrari of Washington-Maserati of Washington for an undisclosed price, marking its “first strategic expansion” outside Canada.

The transaction closed last week and the dealership will retain its name, said Virginie Aubert, a spokeswoman for the group, in an email to Automotive News

The two dealerships are housed in one building, but have separate entrances. The Ferrari side recently wrapped up renovations, she said.

“We believe these dealerships will be an excellent opportunity to establish our presence in the U.S. market,” Kap Dilawri, the company’s co-founder, said in a statement.

The two dealerships sit on a 4-acre site, with an adjacent storage lot that can hold more than 200 vehicles, Aubert said. The acquisition also adds the two brands to its portfolio, she said.

The seller of the dealerships wasn’t immediately available. But Aubert confirmed that the stores’ former dealer principal Chris Berlin was no longer with either 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. area.

Dilawri, the privately owned Canadian dealership group, now has more than 75 franchised dealerships in the U.S. and across five Canadian provinces.

Dilawri joins a growing list of Canadian dealership groups shifting their attention to expanding in the United States. Among others, Foundation Automotive, Knight Automotive Group and Steele Auto Group have each recently added to their U.S. footprints.

FOLLOW US ON GOOGLE NEWS

 

Read original article here

Denial of responsibility! Samachar Central is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment