Toronto, Ontario — Lithia & Driveway (LAD) and Pfaff Automotive Partners closed the deal on a new partnership on Tuesday that will mark the first entry of a U.S. public automotive retailer to the Canadian market.
“We are excited to ignite our expansion into the Canadian market together with Pfaff,” said Bryan DeBoer, LAD president and CEO.
“In Pfaff, we saw a perfect partner with a strong reputation with the customer built on a passion for motorsports, an attractive portfolio of brands, and a forward-looking, performance-oriented culture. With their strong presence in Canada, and great knowledge of the performance and luxury market, they are the perfect hub for our future growth in Canada and will be valuable as we continue to grow throughout North America.”
This deal has been in the works for the better part of five years, and as recently as July, LAD executives made it clear that they had their sights set on the Canadian market.
“With their scale and resources, Lithia & Driveway are best-positioned to enable Pfaff’s continued growth,” said Chris Pfaff, president and CEO of Pfaff Automotive Partners.
“LAD’s customer-centric brands and e-commerce capabilities will continue to evolve our customer experience, and we also gain access to a huge depth of talent and resources across their organization as we continue to innovate. Best of all, with LAD’s continued growth, there are unlimited future opportunities for our team members.”
Eleven dealership operations and Pfaff Leasing, included in the partnership with LAD, will continue to operate under the Pfaff brand name in Canada. Chris Pfaff will continue his role as President and CEO of the group.
