An agreement to purchase the Grossinger Auto Group will give AutoCanada eight dealerships in Metro Chicago, plus six luxury/premium brands in a nearby auto mall. The acquisition adds four new brands to the AutoCanada portfolio — Toyota, Honda, Lincoln and Volvo — and extends its reach into the U.S. for the first time.
Grossinger, a family business that has been retailing used vehicles in Illinois for 90 years, generated revenue of U.S.$401 million (C$513 million) last year.
“This is a pivotal move for AutoCanada as this U.S. acquisition broadens our geographical reach and brand diversification through adding a combination of domestic, import and luxury dealerships to our portfolio,” said Steven Landry, AutoCanada President and CEO.
Most of the acquired dealerships will continue to operate under the Grossinger name and local store leadership and staff will be encouraged to remain, according to a company press release.
Richard Zanetti, an experienced dealer/operator from New York and current leader of AutoCanada’s dealership platform in Calgary, will relocate to Chicago to manage the newly-acquired group.
