Christian Chia, CEO of OpenRoad Auto
LANGLEY – OpenRoad Auto is picking up speed, as the dealership group has become the majority shareholder in Ontario’s NewRoads Automotive Group.
This brings together eight NewRoads dealerships with OpenRoad’s four existing Ontario operations – OpenRoad Honda Brampton, Brampton East Toyota, ToyotaTown London, and Lexus of London – forming OpenRoad Auto Ontario, a combined network of 12 retail locations across Ontario.
Michael Croxon, previously President and CEO of NewRoads, will continue to play an active role and assume the position of President of OpenRoad Auto Ontario.
“NewRoads has built an outstanding reputation in Ontario’s York region and beyond, with a culture of service and community values that align with ours at OpenRoad,” explains Christian Chia, CEO of OpenRoad Auto. “By combining our operations, we are strengthening our presence in Ontario and enhancing our ability to serve customers across multiple brands, including Toyota, Mazda, Honda, and Subaru – brands that are core to OpenRoad – and iconic brands from General Motors of Canada and Stellantis that are new to our group. We are excited to welcome Michael and the entire NewRoads team into the OpenRoad family.”
Founded in 2000, OpenRoad Auto is B.C.’s largest automotive dealership group, employing over 2,500 associates and representing 25 brands across 44 full-service locations, including 37 dealerships in B.C. and Ontario, and 7 collision centres. OpenRoad is recognized amongst Canada’s Best Managed Companies, is a CADA Laureate, and a recipient of multiple Canadian Best Employer Awards.
NewRoads Automotive Group was founded in 1968.
Croxson states “This is an opportunity for me to keep working in the industry that I love while also ensuring the long-term future of NewRoads is in the best possible hands. I look forward to working with OpenRoad and continuing to build upon the strong and trusted foundation we have established here in Ontario.”
This transaction was funded by a syndicate of banks led by BMO and included Scotiabank, CIBC and Desjardins as OpenRoad Auto’s strategic financing partners. The deal was facilitated by Samir Akhavan of dealership brokerage, Templeton Marsh.
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