On September 30, 2025, Eagers Automotive Limited, Australia’s largest automotive retail group, agreed to acquire a 65% ownership interest in CanadaOne Auto and its affiliated entities. The agreement valued CanadaOne at $2.5 billion. Following the transaction, CanadaOne’s shareholders were expected to become the second largest shareholder in Eagers. CanadaOne would continue to operate under its current senior leadership, with Pat Priestner remaining as CEO and the company’s head office staying in Edmonton, Alberta. The stated rationale for the deal included combining Eagers’ international automotive retail experience and capital resources with CanadaOne’s local market presence. The transaction was also expected to provide capital for acquisitions, dealership infrastructure, and digital retailing. Pat and Diana Priestner planned to continue their charitable giving program, contributing about $5 million per year through the CanadaOne Cares Dealership Giving Program. The transaction was scheduled to close in the first quarter of 2026, pending regulatory and OEM approvals, including from the Minister of Industry, and other required consents.

Stikeman Elliott LLP represented CanadaOne Auto Group.