AutoCanada Sells 13 of 17 US Stores
AutoCanada announced the sale of 13 of its 17 U.S. franchised dealerships to multiple unnamed purchasers in a series of deals worth more than $82.7 million CAN ($60.4 million USD). The Edmonton, Alberta-based retailer’s executive team had been forthright about their intentions to divest their U.S. holdings.
“As previously disclosed, the Company classified its U.S. Operations segment as a discontinued operation in its financial statements for the year ended December 31, 2024,” a press release states, in part. “AutoCanada remains actively engaged in the divestiture of its remaining four U.S. dealerships.”
The dealerships sold in the current transactions include Crystal Lake Chrysler Dodge Jeep Ram, Chevrolet and Hyundai of Palatine and the multifranchise Autohaus of Peoria and Bloomington Automall.
Last year, AutoCanada was forced to pay $20 million to settle Federal Trade Commission charges that its 10-dealership Leader Automotive Group engaged in price and inventory fraud, payment packing and fake or coerced online reviews.
