May 15, 2002
cars4U acquires Thornhill Fine Cars
Toronto, Ontario – cars4U.com Ltd. announced it has bought independent automobile leasing company Thornhill Fine Cars. The move is part of cars4U’s strategy to acquire both automotive dealerships and leasing companies, as a public company consolidator. Thornhill Fine Cars will join the cars4U roster of companies, and will operate under the banner of the company’s leasing division, Lease-Win Limited.
“Thornhill Fine Cars has operated successfully for over 15 years, and brings a new leasing clientele and strong management to Lease-Win,” said cars4U’s President and CEO Barry Shafran. “This new acquisition will further enhance the growth Lease-Win and cars4U have been experiencing over these last two years.”
cars4U will continue to watch the marketplace throughout 2002 for additional acquisition opportunities.
“After a year of strong results, this is another step in cars4U’s strategy to become Canada’s preeminent automotive retailer,” added Shafran. “Consolidation in the U.S. has resulted in significant improvements in automotive retailing, including more efficient operations, an improved
customer experience and strong returns for shareholders. cars4U is the only public company in Canada going down that same road.”