AutoCanada Sells 13 U.S. Dealerships for US$82.7 Million, Exits American Market
AutoCanada Inc. has inked definitive agreements to unload the last 13 stores in its U.S. portfolio—including luxury outlets such as Autohaus of Peoria and Bloomington Automall—for a combined US $82.7 million in cash and real‑estate proceeds. Management said the sale, expected to close in the second half of 2025 pending OEM approvals, will pay down debt and free capital for an aggressive Canadian expansion plan.
Executive chair Paul Antony acknowledged the company “lacked the scale and local expertise” to succeed south of the border after posting repeated losses in its U.S. segment. The divestiture ends a seven‑year foray that began with a US $86 million acquisition spree in 2018 and leaves AutoCanada with 83 dealerships exclusively in Canada.
Investors welcomed the retrenchment: shares rose more than 6 percent in early Toronto trading as analysts praised the sharper focus on profitable domestic operations. AutoCanada hinted at new consolidation moves at home, saying it aims to become “the leading Canadian automotive retail consolidator” while steering clear of further international adventures.
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