Who owns hyatt auto group

The Edmonton-based company will purchase most of the dealerships owned by Calgary-based Hyatt Automotive Group, dealer sources in Calgary said. AutoCanada announced last month that it had signed an agreement to buy eight dealerships, including its first dealer group of more than two stores, in transactions that are scheduled to close Aug.

The identities of the dealerships that have been purchased have not previously been made public. Dealer sources said Hyatt Group will likely hold on to a dealership that sells Mercedes-Benz, Smart and Sprinter vehicles.

Hyatt also holds an Acura store, but Honda Canada Inc. AutoCanada chief executive officer Pat Priestner would not comment last week when asked how big the dealer group is, or whether the purchase of the unidentified dealer group included stores the company does not own now.

AutoCanada does not operate Acura or Mercedes-Benz outlets. Hyatt Group owner Steven Itzcovitch did not return phone calls seeking comment. Priestner said on a conference call to discuss AutoCanada's first-quarter financial results last week. More dealer groups than ever before are discussing sales, he added. The dealership landscape is changing across the country amid demands by auto makers that their dealers spend millions of dollars upgrading their stores and as aging dealers decide to leave the business.

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