The Boyd Group continues to show strong appetite for expansion even after agreeing to purchase 258 Joe Hudson’s collision centres south of the border for US$1.3 billion.

Winnipeg-based Boyd said in its third-quarter report that it plans to open 13 new startup locations in the fourth quarter. The company also expects to open an additional 18 autobody shops, which are currently in development, through the end of September 2026.

Boyd intends to complement startup location development with acquisitions, including single shops in unspecified areas and portfolios spanning multiple American states. The company said it added 24 new shops in the third quarter. The additions include 17 acquired shops and seven new startup

“Boyd’s outlook for new location growth remains positive and unchanged following the Joe Hudson’s Collision Center acquisition announcement,” said the company in its quarterly report. “The company has successfully established a foundation that enables the opening of an average of approximately eight to ten new start-up locations per quarter. 

Boyd surpassed 1,000 locations during the third quarter. If all goes according to plan, the Joe Hudson’s acquisition will expand the company’s location total to 1,273.

The company’s third quarter included the Joe Hudson’s proposed-deal announcement and a number of financing initiatives tied to it.

Boyd closed its $525-million Canadian private-placement offering, which is designed to fund part of the Joe Hudson’s acquisition. The offering closed after Winnipeg-based Boyd completed an upsized US$897-million American IPO to help complete the proposed acquisition.

Boyd is also funding the acquisition through a combination of drawings on the company’s evolving credit facilities, as well as proceeds from the U.S. IPO.

Photo: Boyd Group