EAGERS Automotive has opened its purse and bought half of major Sydney and Gold Coast dealer group GMG and, in a separate deal, two Audi dealerships in Victoria.

The announcement lifted Eagers’ share price immediately to $24.43, up $1.93 (8.6 per cent).

Grand Motors Toyota, Gold Coast

GMG (Grand Motor Group) owns Grand Motors Toyota on the Gold Coast. It also owns Northshore BMW and Mini in Sydney; and the Ryde Automotive Group that has Kia, Mazda and Subaru showrooms in the Sydney suburb of Ryde.

Eagers also bought Audi Centre Melbourne and Audi Richmond from Zagame Automotive. Zagame, which until now had five Audi dealerships in Victoria, now has three including the Essendon Fields outlet opened last year. The GMG deal with owners Greg Scott and associates is for 49 per cent of their stake in the group, aside from the 20 per cent direct interest held by the dealer equity partner and the 25 per cent direct interest held by the dealer equity partner in Ryde Automotive.

Ryde Kia & Ryde Subaru, Sydney – under construction

Effective at the end of June this year (subject to approvals), it means that Eagers will have the majority shareholding in the dealer group.

Eagers said that the partnership “will provide the opportunity for collaboration around technology sharing, back-office efficiencies and easyauto123 opportunities in the initial stages following completion of the transaction”.

North Shore BMW, Sydney

GMG’s Greg Scott said in a statement that he had “never seen as much change and evolution to the businesses as I have in the past few years”.

Ryde Mazda, Sydney

“I have always believed change creates opportunity and, to make sure our business is best positioned to capitalise, I believe it is critical that we are in business with a strong, well-resourced and innovative partner,” he said.

“This partnership with Eagers Automotive delivers a sustainable platform for myself, my family and business partners to grow with the leading automotive retail group in Australia and together leverage the various opportunities that will come our way.”

Audi Centre, Melbourne City

Eagers said GMG’s revenue for the 12 months ending December 2025 was about $490 million.

An Eagers spokesman told GoAutoNews Premium that the price paid by Eagers for both the GMG and Zagame deals had yet to be announced.

In its statement to the Australian Securities Exchange (ASX), Eagers said the Audi purchases complement its existing Audi Centre Newcastle asset and expects the two new dealerships to add $140 million in revenue for the 12 months ending December 2025.

Audi, Richmond, Melbourne

Eagers CEO Keith Thornton said the Audi dealerships “strengthen our premium segment portfolio and provide a platform for further growth as recent changes to the luxury car tax come into effect”.

“Bobby Zagame has built an enviable automotive group focused on premium and high-end marques,” he said.

“We are excited to be acquiring such attractive assets from the Zagame Automotive Group.”

Eagers CEO Keith Thornton

The 49 per cent stake acquired in GMG is regarded as a partnership and follows the model of Eagers’ share bought last year in Canadian group CanadaOne. Eagers structure previously tended to favour outright purchases.

Mr Thornton also said that the CanadaOne investment was continuing ahead to satisfy “the remaining pre-completion requirements with the Canadian OEM partners”. He said completion was expected in the second quarter of this year.

CanadaOne founder Pat Priestner said in a statement that the partnership with Eagers had been “very well received” in the Canadian market “with encouraging feedback from our employees and key stakeholders alike”.

“Together with Eagers, we are engaging closely and constructively with our OEM partners as part of the consent process, which is progressing as expected given the scale and structure of the transaction,” he said.

“We are encouraged by the collaboration already underway with the Eagers team and we are excited for the meaningful growth opportunities ahead.”