EDMONTON, Jan. 7, 2013 /CNW/ - AutoCanada Inc. ("AutoCanada") (TSX:ACQ)
announced today that it has completed the purchase of the assets of a
Volkswagen dealership known as People's Automotive Ltd, located in
Grande Prairie, Alberta, to be continued under the name of Grande
Prairie Volkswagen. The dealership facility is an approximately 12,000
sq. ft. facility which includes eight service bays and a six car
showroom. The dealership has been in operation for over 30 years and in
2011 retailed approximately 110 new and 50 used vehicles.
"We are very pleased to acquire a Volkswagen dealership and expand our
presence in Grande Prairie, Alberta, one of our strongest dealership
platforms. The acquisition complements our 'tuck-in' strategy of
adding quality franchises in markets with existing platforms. The
management team at AutoCanada and the Grande Prairie Auto Group would
like to extend a warm welcome to the employees of People's Automotive
and its valued customers," stated Pat Priestner, CEO of AutoCanada.
Mr. Priestner further commented, "The Volkswagen brand has been gaining
significant momentum in Canada over the past few years. We are very
proud to strengthen our partnership with Volkswagen Canada and share in
the continued growth and success of the brand."
About AutoCanada
AutoCanada is one of Canada's largest multi-location automobile
dealership groups, currently operating 27 franchised dealerships in six
provinces and has over 1,100 employees. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, FIAT, Chevrolet, GMC, Buick, Infiniti,
Nissan, Hyundai, Subaru, Mitsubishi, and Volkswagen branded vehicles.
In 2011, our dealerships sold approximately 28,000 vehicles and
processed approximately 300,000 service and collision repair orders in
our 333 service bays during that time.
Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.
About Grande Prairie Auto Group
The Grande Prairie Auto Group is a group of dealerships owned and
operated by AutoCanada serving the Grande Prairie and surrounding
region. Since its inception in 1998, the Grande Prairie Auto Group has
grown to represent nine brands at its six locations under the
leadership of Wes Kaban, Managing Partner, and the dealership
management teams in Grande Prairie. The group is widely known in the
Peace Country area for providing a quality selection of vehicles,
excellent prices, and exceptional customer service.
Additional information on the Grande Prairie Auto Group is available at www.gpautogroup.com.
SOURCE: AutoCanada Inc.
