- AutoCanada ( OTCPK:AOCIF ) has acquired Auto Gallery of Winnipeg, an independent used vehicle dealership in Winnipeg, Manitoba.
- The acquired dealership generates in excess of $15M in annual revenue and is expected to be accretive to 2022 earnings.
- The transaction includes the acquisition of the underlying real estate and will be funded from a drawdown of the Co.'s credit facility.
- "This acquisition also aligns with our strategy of geographic diversification as it expands our network of used dealerships, furthers our exposure into the Manitoba market and provides a central strategic logistics hub between Winnipeg and Ontario locations and our Western locations." said Executive Chairman, Paul Antony.
For further details see:
AutoCanada acquires Auto Gallery of Winnipeg