Groupe Olivier, of St-Hubert, Québec, near Montreal, expanded into the U.S. with the acquisition of three dealerships in two southeast Michigan cities.
Driving the news: Matt and Laura Bell of Bell Automotive Group were the sellers in the deal that closed Oct. 19.
For context: Sold were Greg Bell Chevrolet Cadillac and Bell Ford Lincoln in Adrian, and Knapp Chevrolet in Blissfield. Both cities, about 15 miles apart, sit south of Ann Arbor, Mich., and north of Toledo, Ohio, with Adrian about 35 miles from each.
They’re the first General Motors stores for Groupe Olivier, too.
The store names are expected to stay the same, according to Mike Funk of Dealer Solutions Mergers & Acquisitions (DSMA).
Funk, supported by DSMA colleagues Shinthya Silva and Jennifer Rafael, represented the sellers in the transaction.
Georges Theberge represented Groupe Olivier.
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What they’re saying: The Bell and Knapp families have deep roots in these communities, and the Bells decided it was time to retire, Funk told CDG News.
“…the Bell organization had great, long-tenured staff at all their locations…,” Funk said. “So that was also a big positive when they were evaluating this opportunity.”
Coming to America: Groupe Olivier, led by Jacques Olivier, Michel Martineau and Daniel Fox, has long been a Ford dealer and “been working very hard to get into the U.S.,” Funk said.
The group now owns 26 dealerships, Funk said, and was happy not only to expand into America, but to add a new brand, too.
“They’ve been trying to get a General Motors franchise for years,” Funk said.
And, he added, the group has more stores under contract and is still growing.
Strategic note: Operating on both sides of the border gives Groupe Olivier an edge, Funk said.
With the U.S. dollar strong against the Canadian dollar, Canadian trade-ins can be attractive to American dealers.
That could let Groupe Olivier offer customers more for trade-ins at its Canadian stores, making them more competitive on new-car sales while staying profitable on the wholesale side, he said.
“…I think that’s one of the biggest reasons they’re leaning in,” Funk said. “They want in the U.S., especially something in southeast Michigan, just makes a lot of sense.”
You can see this deal announcement and many more throughout the year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, presented by The Presidio Group.
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