Sale of two more stores leaves AutoCanada with three locations to go in its U.S. exit
Image courtesy of AutoCanada.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
AutoCanada’s U.S. holdings are down to three stores.
The Edmonton-based dealership group has closed on the sale of two more of its U.S. dealerships: Hyundai of Lincolnwood and Kia of in Lincolnwood, both in the Chicago suburb of Lincolnwood, Ill.
The dealerships were acquired by Berman Automotive Group, according to Haig Partners, which advised AutoCanada on the transaction. Berman, founded in 1987 by Michael Berman and led by his sons, Ross and Todd Berman, operates seven locations in the Chicago area.
With the sales, AutoCanada has just three locations left in the U.S. Those include Toyota of Lincolnwood and two “superstores” featuring multiple franchises — Autohaus of Peoria (Audi, Mercedes-Benz, Porsche and Volkswagen) in Peoria, Ill., and Bloomington Automall (Audi, Lincoln, Mercedes-Benz, Subaru and Volkswagen), in Normal, Ill.
AutoCanada announced last summer it had entered into “definitive agreements” to sell six of its 10 American locations, including the two superstores. The other four deals have since closed.
The sales are the latest steps in AutoCanada’s ongoing strategy to divest its U.S. operations, which it classified as discontinued in 2024 after the dealerships posted a $103.4 million net loss for the year. In 2025, Hyundai of Lincolnwood posted a net loss of $3.4 million (Canadian) and Kia of Lincolnwood lost $1.6 million, the company said.
Subscribe to Auto Remarketing to stay informed and stay ahead.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
AutoCanada said the Hyundai store sold for $3.3 million and the Kia sale, which closed last month, brought in $13.4 million, with all net proceeds directed toward reducing the outstanding balance of its revolving credit facility. In all, the company said it has grossed $65.8 million from the seven U.S. stores that have been sold so far, and expects that total to rise to $115 million to $130 million when the rest of the deals are completed.
AutoCanada also said in connection with the sales it has received consent from its lending syndicate to amend the covenant under its credit facility to provide “additional financial flexibility” as it continues the divestiture of its U.S. dealerships.
