New South Wales, Australia – Servco Australia, a subsidiary of Hawaii-based Servco Pacific Inc. (Servco), today announced that it has completed a deal to purchase the Tamworth City Toyota, New England Toyota Armidale, New England Toyota Inverell, New England Subaru, and New England Mitsubishi dealerships. The acquisition brings Servco’s total dealership count in Australia to 23 and adds its second Subaru dealership and its first Mitsubishi franchise.
With site locations in Tamworth, Armidale, and Inverell, the dealerships will operate under the direction of Equity Partner/Dealer Principal, Tim Easey, and General Manager, Matt Hanrahan.
These acquisitions in rural Australia come at a time when the region has seen an increase in population growth and, as a result, year-over-year automotive sales growth. Tamworth City Toyota and New England Toyota sell approximately 1,100 new vehicles and 600 used vehicles, annually. The acquisition also increases the number of Servco team members in Australia to nearly 1,200.