EDMONTON, Nov. 10, 2011 /CNW/ - AutoCanada Inc. ("AutoCanada") (TSX:ACQ)
announced today that it has completed the purchase of the assets of two
dealerships formerly known as Valley Autohouse, located in Abbotsford
and Chilliwack, British Columbia, to be continued under the names of
Abbotsford Volkswagen and Chilliwack Volkswagen. The two dealerships
have been in receivership since October 27, 2011 and have ceased
operations since that time. It is Management's plan to resume
operations during the week of November 14, 2011. The Abbotsford
facility is an approximately 9,300 sq. ft. leased facility which
includes eight service bays and a six car showroom. The dealership has
been in operation since 1986 and in 2010 retailed approximately 210 new
and 190 used vehicles. The Chilliwack facility is an approximately
4,500 sq. ft. leased facility which includes 3 service bays and a
single car showroom. The dealership has been in operation since 2002
and in 2010 retailed approximately 30 new and 40 used vehicles.
"We are extremely pleased to expand our presence in the Fraser Valley, a
very strong market within one of our existing dealership platforms."
stated Pat Priestner, CEO of AutoCanada. "We are excited to continue
to build our relationship with Volkswagen Canada and we believe that VW
will continue to be one of the fastest growing brands in North
AutoCanada is one of Canada's largest multi-location automobile
dealership groups, currently operating 24 franchised dealerships in six
provinces and has over 1,100 employees. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, FIAT, Infiniti, Nissan, Hyundai, Subaru,
Mitsubishi and Volkswagen branded vehicles. In 2010, our dealerships
sold approximately 24,000 vehicles and processed approximately
317,000 service and collision repair orders in our 339 service bays at
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