AutoCanada acquires 11 dealerships from the Autopoint Group

AutoCanada completed the acquisition of 11 dealerships from the Autopoint Group, which continues to operate across Southwestern Ontario after more than 17 years.

In a news release, the group said the dealerships generate annual revenue of more than $345 million, selling and servicing Honda, Acura, Nissan, Infiniti, Subaru, and Kia vehicles.

“The acquisition adds significant size, scale and scope to AutoCanada’s existing platform in a growing market,” said Paul Antony, AutoCanada’s Executive Chairman.

The dealership group said the acquisition provides them with geographic diversification, as it more than doubles AutoCanada’s Ontario footprint from seven to 18 dealerships. It also provides brand diversification by adding three new brands to the group’s Canadian platform, increasing the import Canadian revenue brand mix from 25 per cent to 32 per cent.

“The transaction will be funded from a drawdown of the Company’s credit facility and is expected to be accretive to 2022 earnings,” said the group.

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