CanadaOne Auto ("CanadaOne") and Eagers Automotive Limited ("Eagers") (Australia's largest automotive retail group with over 400 OEM dealer agreements, representing 50+ OEM brands and publicly traded on the Australia Stock Exchange (ASX: APE)), today announced that they have entered into a definitive share purchase agreement, pursuant to which Eagers will acquire a 65% ownership interest in CanadaOne and its affiliated entities based on an overall enterprise value for CanadaOne of $2.5 billion (the "Transaction"). As part of the Transaction, the shareholders of CanadaOne expect to become Eagers' second largest shareholder.

CanadaOne will continue to be led by Pat Priestner as CEO along with the rest of the current senior leadership team and its head office will remain in Edmonton, Alberta.

"This partnership unites Eagers' global automotive retail expertise and capital strength with CanadaOne's award-winning operational excellence and deep local market relationships, creating one of the most dynamic growth platforms in the Canadian automotive sector. 

By combining our deep local knowledge with Eagers' international retail expertise, resources and relationships, we are building a platform for long-term, strategic growth that will drive innovation for decades to come.  For us, and maybe many others in the Canadian automotive retail industry, this partnership provides a unique opportunity for Canadian dealerships considering succession and legacy," said Pat Priestner, CEO of CanadaOne. "by providing immediate capital depth, enabling accelerated investment in acquisitions, dealership infrastructure and digital retailing."

As part of the transition, Pat and Diana Priestner will continue their approximate $5 million per year charitable giving program through the CanadaOne Cares Dealership Giving Program.

The target closing is Q1 2026, subject to regulatory and OEM approvals, including the Minister of Industry, as well as other customary required consents.

About CanadaOne Auto CanadaOne Auto operates 42 franchised dealerships and is a leading Canadian automotive retailer recognized for operational excellence, customer service, and deep community roots across multiple provinces.  Additional information about CanadaOne is available at the company's website www.canadaoneauto.com 

About Eagers Automotive LimitedEagers Automotive Limited is a global automotive retail leader with decades of experience delivering best-in-class retail strategies, innovation, and customer experiences across multiple markets.  On annual basis, Eagers retails over 170,000 new retail vehicles and 70,000 used retail vehicles, has revenues of ~$12 billion (AUD) through its over 400 OEM dealer agreements and the 50+ OEM brands that it represents.  Additional information about Eagers is available at the company's website at www.eagersautomotive.com.au.

SOURCE CanadaOne Auto

SOURCE: CanadaOne Auto

For more information: Media Contact Camille McCrindle, Chief of Staff, CanadaOne
Auto, cmccrindle@canadaoneauto.com

COMTEX_469177849/2197/2025-09-30T19:25:00