MINDEMOYA—The Manitoulin Chrysler dealership in Mindemoya has now officially purchased Algoma Chrysler and its three locations on the North Shore.
“I’ve been thinking about it for a while now,” said Wayne Legge, owner of Manitoulin Chrysler. “Having a business is like a tree ‘the day you quit growing is the day that you die.’ I’ve lived by that philosophy all my life.”
Mr. Legge explained, “we started talks back in February with George Farkouh (owner of Algoma Chrysler) trying to get things done and it didn’t take us long to come to a deal, having worked through the corporate stuff.” The agreement is for the three locations in Espanola, Spragge and Elliot Lake.
“The agreement was officially reached on September 1,” said Mr. Legge. He pointed out, “we are fortunate that, at every location, all the current staff employees stayed with the transfer of ownership. Manitoulin Chrysler has about 27 employees while Algoma has 25. Hopefully in the future we will be able to add to the staff numbers to help keep growing and adding to customer service.” He noted the Algoma Chrysler name will remain at all three locations.
Mr. Legge noted, “a major contributor and a key person in the negotiations to purchase and getting the deal done was Heather Hall, my accountant/comptroller. She was working with George before she came here, and she knows Mr. Farkouh very well, which made it easy, with Heather to put this together.”
Mr. Farkouh has been the owner of Algoma Chrysler for the past 37 years and is turning over the business to Mr. Legge, a family friend and owner of Manitoulin Chrysler. The sale blends both franchises and greatly increases the inventory, with the names remaining the same. The new business has dealerships in Mindemoya, McKerrow, Elliot Lake and Spragge.
Owen Legge started with Manitoulin Chrysler in 1989, “and I started working with my dad 15 years ago and then 10 years ago, I purchased the business from my dad who still helps with a bunch of little things here,” said Wayne Legge. “The Legge family has had the Chrysler dealership on the Island for about 25 years.”
“This (the purchase) is very good because we’re a family-run dealership, and family in a small town is everything in a dealership, and Mr. Farkouh is the exact same way, so it was the exact same way with the fit of the dealerships,” Mr. Legge observed.