Melbourne, Australia – Servco Australia, a subsidiary of Hawaii-based Servco Pacific Inc. (Servco), today announced that it has completed a deal to purchase the Cannon Toyota dealership in Melbourne, Australia from Brent Cannon and Robert Little. The acquisition brings Servco’s total dealership count in Australia to 18 and makes Servco Australia the largest Toyota dealer group in the country.
Cannon Toyota, located in the Melbourne suburb of Heidelberg, will operate as a branch of Melbourne City Toyota under the direction of Dealer Principal Roy Ayoubi. Servco’s two other dealerships in Melbourne, Camberwell Toyota and South Melbourne Toyota, also operate as branches of Melbourne City Toyota. Cannon Toyota has annual unit sales of 1,100 new and 590 used vehicles. When combined with the Melbourne City Toyota group annual new units sales will lift to 5,250 units annually with consolidated revenue of $300 million. The acquisition also increases the number of Servco team members in Australia to nearly 1,100.
“We started with only one dealership just over 10 years ago, so to now be the largest Toyota dealer group in Australia is quite the accomplishment for us,” said Nick Pappas, managing director of Servco Australia. “We owe a great deal of thanks to Toyota and our teams in Australia and Hawaii for this milestone.”
Counting Cannon Toyota, Servco Australia now includes 15 Toyota outlets, three Lexus dealerships, one Hino dealership, and a Jeep, Isuzu UTE and Subaru dealership.