Eagers Automotive has finalized its majority acquisition of CanadaOne Auto, positioning itself among the world’s largest automotive retail groups with combined pro-forma revenue nearing A$19 billion.
- Acquisition of 65% of CanadaOne Auto completed
- Combined pro-forma FY25 revenue of A$18.7 billion
- Pro-forma EBITDA reaches A$968.6 million
- CanadaOne founder acquires 5% stake in easyauto123
- Strategic partnership with Mitsubishi Corporation continues
Major North American Expansion Finalised
Eagers Automotive (ASX:APE) has completed its strategic acquisition of a 65% stake in CanadaOne Auto, one of Canada’s largest dealership groups, effective 30 April 2026. This move significantly expands Eagers’ footprint beyond Australia and New Zealand, establishing it as a leading publicly listed automotive retail group on the global stage.
The combined pro-forma financials for the 2025 fiscal year now represent A$18.7 billion in revenue, A$968.6 million in EBITDA, and A$671.9 million in profit before tax. These figures incorporate the underlying performance of both Eagers and CanadaOne Auto, including interest on debt drawn to fund the acquisition. This scale leapfrogs Eagers into a new league, intensifying its competitive positioning internationally.
Strategic Synergies and Leadership Moves
Integral to the deal is the involvement of CanadaOne’s founder, Pat Priestner, who has exercised an option to acquire a 5% stake in easyauto123, Eagers' independent pre-owned vehicle business operating across Australia and New Zealand. Priestner’s entry alongside Mitsubishi Corporation and Eagers in easyauto123 is designed to inject global automotive expertise and catalyse growth in this segment.
CEO Keith Thornton characterised the investment as a "defining milestone" for Eagers, highlighting the collaboration between the two companies as a foundation for operational excellence and strategic growth in North America. This aligns with Eagers’ broader expansion strategy, which has seen recent capital raises and acquisitions aimed at premium and multi-brand dealership growth domestically and internationally.
Funding and Market Positioning
The acquisition follows a series of capital raises in 2025, including a successful A$310 million retail entitlement offer and a broader A$502 million equity raise, which were explicitly aimed at funding the CanadaOne investment and strengthening Eagers’ balance sheet. These initiatives received strong backing from major shareholders and institutional investors, underpinning confidence in the company’s growth trajectory.
With this acquisition, Eagers not only boosts its revenue and earnings but also diversifies its geographical exposure, reducing reliance on the Australian market. The partnership with Mitsubishi Corporation remains a key pillar, supporting both capital and strategic collaboration across the group’s expanding footprint.
Bottom Line?
Eagers Automotive’s bold North American foray reshapes its scale and scope, but integration execution and realising cross-border synergies will be critical to sustaining momentum.
Questions in the middle?
- How will Eagers integrate CanadaOne’s operations to optimise efficiencies?
- What impact will Pat Priestner’s stake in easyauto123 have on its growth strategy?
- Will the combined group maintain its strong EBITDA margins amid cross-border expansion?