Mierins Automotive Group Announces Sale to Alpha Auto Group

OTTAWA, May 4, 2018 /CNW/ - Mierins Automotive Group, a family-owned business for over 60 years, announces a transaction agreement to sell 10 of its dealerships and two collision centres to Alpha Auto Group, and entities controlled by Mr. Kuldeep Billan, based in Toronto, Ontario.

Founded in 1957, Mierins Automotive Group has agreed to sell 10 dealerships and two world-class collision centres located in Ottawa, Kingston and Brockville. Today's agreement pertains to dealerships representing Acura, BMW, Honda, Lexus, MINI, Subaru and Toyota.

Key facts of the agreement:

• Includes the sale of two collision centres and 10 dealerships;
• All 550 employees have been offered positions with the business and will retain their existing levels of seniority and benefits;
• Co-presidents Lisa Mierins and Arnie Mierins will stay on for a transition period;
• The name Mierins Automotive Group will continue to be the holding company brand of the acquired dealerships as well as potential future acquisitions;
• On a pro forma basis, the combined business represents 13 brands, 20 dealerships with locations across Canada;
• This transaction represents one of the largest en-bloc acquisitions of an auto retail group in Canadian auto retail history.

"Our employees are our family and our communities are our home," said Arnie Mierins and Lisa Mierins, Co-Presidents of Mierins Automotive Group. "It means a lot to us to have found a buyer who shares our values and will continue the legacy that our father and our family established over sixty years ago."

SOURCE Mierins Automotive Group

Media Contact: Howard Fremeth, 613.854.5336, [email protected]