Strategic acquisition provides strong brand and geographic diversification, adding 11 dealerships across the high-growth Southwestern Ontario market
EDMONTON, AB, Dec. 1, 2021 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced that it has completed the acquisition of 11 dealerships from the Autopoint Group ("Autopoint"), a group that has operated for over 17 years across Southwestern Ontario. The dealerships generate annual revenue of over $345 million, selling and servicing Honda, Acura, Nissan, Infiniti, Subaru, and Kia vehicles.
"The acquisition adds significant size, scale and scope to AutoCanada's existing platform in a growing market," said Paul Antony, AutoCanada's Executive Chairman. "We are very honoured to be able to partner with Honda and Acura for the first time, to represent Kia again, and to expand our existing partnerships with Nissan, Infiniti, and Subaru. Last but not least, we are very excited to welcome the high quality Autopoint team to the AutoCanada family."
The senior leadership team at Autopoint wished to share: "We are incredibly excited to join the AutoCanada family and continue to deliver top-tier performance to our OEM partners. All of our team members are staying with us through this transaction and will have even more opportunities to grow alongside AutoCanada."