Clark Chevrolet Cadillac sells to current owners of Portland Street Honda and Fox Subaru
Fredericton, NB: John Clark Jr. of Clark Chevrolet Cadillac announced today that they have entered into a sale agreement with Dale Fox and Mac Fox of Woodstock, current owners of both Fox Subaru in Fredericton, NB and Portland Street Honda in Dartmouth, NS and previous long-term owners of Fox Ford Lincoln in Woodstock, NB. The deal was brokered by Confederation M&A, Atlantic Canada’s leading mergers & acquisitions firm.
A family owned and operated enterprise for 136 years, there have been six generations of Clarks involved in the business, beginning with John T. Clark and his son W. G. Clark, who went into business in 1883 and who brought the very first Chevrolet to Canada in 1915. While marking the end to an era few family businesses ever achieve, it is the beginning of an exciting new chapter for the oldest Chevrolet dealership in Canada.
“I have great confidence in transitioning the business to Dale and Mac, who we have known for many years. They are successful operators with reputable businesses, and feel like a good fit with our values and history” says Clark, who became Dealer Principal of Clark Chevrolet Cadillac in 1995.
Dale and Mac, who have been in business with their own dealerships for more than three decades, are ready for the new role. “We’re thrilled to take over ownership of this hugely successful operation with such a longstanding history in the automotive industry,” they said in a joint statement. “Clark Chevrolet Cadillac’s success is a reflection of their dedicated staff and commitment to their valued customers,” they added.
Confederation M&A is a team of highly experienced mergers & acquisitions advisors doing business across Atlantic Canada with head offices in Charlottetown and Fredericton. As a leading M&A firm in the region serving a diverse range of clients across a wide range of industries, they work confidentially and in unison with accounting, valuation, and tax specialists to find the best possible solutions to help entrepreneurs achieve their buying and selling needs.
President, Confederation M&A