AutoCanada sells 13 US dealerships & is ‘actively engaged’ in divesting 4 remaining US stores
Image courtesy of AutoCanada.
AutoCanada has taken a major step toward divesting its U.S. dealerships.
The retailer, which previously announced it has classified its U.S. operations segment as a discontinued operation, said Wednesday it has entered agreements to sell 13 American stores.
AutoCanada anticipates the aggregated proceeds will be an estimated $82.7 million (CAD), including $6.4 million for real estate.
The stores are being sold to multiple purchasers. The dealerships sold include:
- Autohaus of Peoria (consisting of Audi, Mercedes-Benz, Porsche, and Volkswagen dealerships)
- Bloomington Automall (consisting of Audi, Lincoln, Mercedes-Benz, Subaru, and Volkswagen dealerships)
- Chevrolet of Palatine
- Crystal Lake Chrysler Dodge Jeep Ram
- Hyundai of Palatine
- North City Honda
AutoCanada anticipates the sales of these stores will close in the second half of the year.
The retailer said it “remains actively engaged in the divestiture” of its four remaining stores in the U.S. Those include Hyundai of Lincolnwood, Kia of Lincolnwood, Toyota of Lincoln Park, and Toyota of Lincolnwood.
