ASSOCIATES GETS BIGGER IN CANADA
By Adnews Staff
Associates First Capital Corp. of Dallas has expanded its Canadian presence. The company has bought Beneficial Canada Holdings Inc., adding another 105 branches to its Canadian operations. The deal is subject to regulatory approval. The Associates and Beneficial lend money to consumers who usually don't qualify for bank loans and charge higher interest rates than banks. Beneficial's portfolio includes mortgage loans, personal loans, private label credit card and sales finance receivables. The Associates has had a commercial finance operation in Canada for two decades, but it quit the consumer lending market here in 1983. It returned to the consumer market in 1995, building 20 branches mainly in Ontario. Canadian advertising for the Associates is done by the Wolf Group of Toronto. Last year, the Associates bought Superior Acceptance Corp., adding 91 offices to its Canadian branch network. With the acquisition of Beneficial and Superior, the Associates has branches across the country.