AutoCanada plans to sell 13 franchised dealerships in its U.S. operations segment, the dealer group recently announced. They said the group entered into definitive agreements to sell the facilities, which are being sold across multiple purchasers.
The dealerships include Autohaus of Peoria, consisting of Audi, Mercedes-Benz, Porsche, and Volkswagen dealerships; Bloomington Automall, consisting of Audi, Lincoln, Mercedes-Benz, Subaru, and Volkswagen dealerships; Chevrolet of Palatine; Crystal Lake Chrysler Dodge Jeep Ram; Hyundai of Palatine; and North City Honda.
The transactions are subject to OEM approvals and are expected to close in the second half of the year. The group also said it is actively engaged in the divestiture of its remaining four U.S. dealerships, which are Hyundai of Lincolnwood, Kia of Lincolnwood, Toyota of Lincoln Park, and Toyota of Lincolnwood.
