AHG buys Osborne Park dealership

Automotive Holdings Group has splashed $5 million on an acquisition of the Paceway Mitsubishi dealership in Osborne Park and another dealership in Brisbane.

The acquisitions will bring AHG’s network to 173 franchises and 97 dealership locations in Australia and New Zealand.

The Brisbane dealership sells Chrysler, Jeep, Dodge, Alfa Romeo and Fiat models.

Managing director Bronte Howson said the acquisition further strengthened the company’s dominant position in Western Australia while growing its portfolio of brands in Queensland.

“Paceway Mitsubishi is an iconic dealership, established in the 1970s and located in Perth’s premier automotive retail hub along Scarborough Beach Road and very close to nine other AHG dealerships in Osborne Park,” he said.

“The Brisbane acquisition increases our Queensland dealership portfolio and is located close to our existing Aspley retail automotive hub, which houses Holden, HSV, Mitsubishi, Hyundai and Suzuki dealerships.”

AHG shares closed unchanged at $4.20 per share.