EDMONTON, March 28, 2013 /CNW/ - AutoCanada Inc. ("AutoCanada" or the
"Company") (TSX: ACQ) announced today that it has obtained approval
from Audi Canada and Volkswagen Canada to purchase the shares of The
St. James Group of Companies ("St. James"), which own and operate two
premium brand franchises, Audi and Volkswagen, located in Winnipeg,
Manitoba. Each of the two franchises are equipped with a six car
showroom and are located adjacent to each other on a property owned by
St. James. The two franchises share a collision center and service
department consisting of 27 service bays. In 2012, the franchises
retailed a combined 642 new vehicles and 252 used vehicles. The
expected closing date for the transaction is April 1, 2013.
"The approval from Audi Canada represents the addition of a new and
storied brand to our portfolio, and we are most pleased with this
development. We would also like to thank Volkswagen Canada for their
continued support by approving the purchase of the Volkswagen
franchise, a brand with which we have developed a strong partnership
over the past three years and which we consider a key partner." stated
Pat Priestner, Chief Executive Officer of AutoCanada.
"St. James has developed a strong reputation throughout its forty year
history in Winnipeg. We would like to thank the current owners, Russ,
Rick and Melanie for selecting our group for succession. The St. James
Group is well respected in the industry and in 2011 was awarded the
prestigious VW Wolfsberg Crest Club Award for overall excellence in
sales, service, and customer service; an award that the current
management team should be very proud of and something we will continue
to strive to achieve." stated Mr. Priestner.
AutoCanada is one of Canada's largest multi-location automobile
dealership groups, currently operating 28 franchised dealerships in six
provinces and has over 1,200 employees. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, FIAT, Chevrolet, GMC, Buick, Infiniti,
Nissan, Hyundai, Subaru, Mitsubishi, and Volkswagen branded vehicles.
In 2012, our dealerships sold approximately 30,000 vehicles and
processed approximately 309,000 service and collision repair orders in
our 333 service bays during that time.
Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.
SOURCE: AutoCanada Inc.
For further information:
Jeff Christie, CA
Phone: (780) 732-7164