Eagers Automotive Locks in 65% of Major Canadian Dealer to Create $18.7B Group
Eagers Automotive has completed its strategic investment in CanadaOne Auto, acquiring 65% of the shares in one of Canada’s largest dealership groups, effective 30 April 2026. The transaction establishes Eagers Automotive (ASX: APE) as one of the leading publicly listed automotive retail groups globally.
Eagers Automotive completes 65% acquisition of CanadaOne Auto
The completion of the acquisition, finalised on 30 April 2026 (Edmonton time), marks a significant expansion for the ASX-listed automotive retailer into the North American market. The strategic investment secures Eagers a 65% controlling stake in CanadaOne Auto’s holding company, positioning the combined entity among the world’s largest publicly traded automotive retail operations.
The transaction has received strong support from key partners and stakeholders across both Canada and Australia. This cross-border acquisition represents a material shift in Eagers Automotive’s geographic footprint, moving beyond its established Australian and New Zealand markets to gain exposure to Canada’s automotive retail sector.
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Combined group delivers A$18.7 billion in pro-forma revenue
The enlarged group demonstrates substantial scale on a combined pro-forma basis for FY25. These figures are based on the underlying performance of both Eagers Automotive and CanadaOne Auto’s business for the 12 months ended 31 December 2025, and include interest on the debt component drawn to fund the investment.
| Metric | Combined Pro-forma FY25 |
|---|---|
| Revenue | A$18.7 billion |
| EBITDA | A$968.6 million |
| Profit Before Tax | A$671.9 million |
The pro-forma financials quantify the earnings power of the combined entity, with revenue approaching A$19 billion and EBITDA nearing A$1 billion on an annualised basis. These metrics position the expanded group as a major player in global automotive retail, with meaningful exposure to both Asia-Pacific and North American markets.
What is CanadaOne Auto?
CanadaOne Auto is one of Canada’s largest dealership groups, operating across multiple provinces and representing a portfolio of automotive brands. The acquisition provides Eagers Automotive with direct access to the North American automotive retail market, diversifying the company’s geographic revenue base and reducing concentration risk in Australia and New Zealand.
The strategic rationale centres on accessing a mature, high-volume automotive market with established dealership infrastructure and experienced management. Canada’s automotive retail sector offers comparable market dynamics to Australia, with franchise dealership networks and similar consumer financing structures.
CanadaOne founder acquires 5% stake in easyauto123
As part of the strategic investment, Pat Priestner, founder of CanadaOne Auto, has exercised his option to acquire a 5% interest in easyauto123 via an associated entity. Easyauto123 is Eagers Automotive’s independent pre-owned car business operating in Australia and New Zealand. The company anticipates completion of this acquisition by the end of May 2026.
Mr Priestner will join Mitsubishi Corporation and Eagers Automotive as shareholders in easyauto123. This shareholding arrangement is positioned to provide a platform of global automotive experience to drive the next phase of growth for the easyauto123 business. The involvement of an experienced North American automotive executive adds international expertise to the pre-owned vehicle operation.
The shareholding structure now comprises three distinct parties with complementary capabilities: Mitsubishi Corporation brings global automotive manufacturing relationships, Eagers Automotive provides Australian retail infrastructure, and Mr Priestner contributes North American operational experience.
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Management outlook
Management commentary following completion signals confidence in the strategic value of the transaction and outlines integration priorities. Collaboration between the two teams during the transaction period is cited as positioning the combined group to pursue operational best practice and growth opportunities in North America.
Keith Thornton, Chief Executive Officer
“Completion of the strategic investment in CanadaOne is a defining milestone for Eagers Automotive and the beginning of an exciting new chapter for both companies. Collaboration between the two teams over recent months has us well-placed for pursuing operational best practice and strategic growth opportunities in the North American market.”
The forward focus on operational best practice suggests management intends to identify and implement efficiency improvements across the combined dealership network. References to strategic growth opportunities in the North American market indicate potential for further expansion beyond the initial CanadaOne acquisition.
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