Premier Chevrolet Cadillac Buick GMC dealership acquired by AutoCanada

Premier Chevrolet Cadillac Buick GMC dealership in Windsor, Ont. (Source: Google Maps)

AutoCanada Inc. announced Tuesday that it has acquired the Premier Chevrolet Cadillac Buick GMC dealership and collision centre in Windsor.

AutoCanada executive chairman Paul Antony said the acquisition further bolsters their physical footprint in Windsor, an attractive market in Southwestern Ontario.

“This acquisition not only adds a dealership with significant growth potential to our portfolio, but also brings a certified collision centre into the AutoCanada Collision platform," said Antony. "Notably, the acquisition expands our relationship with Chevrolet, Cadillac, GMC, and Buick, adds another Cadillac store into our dealership portfolio, and represents our third dealership in Windsor.”

Anthony adds they look forward to building upon the strong foundation established by the previous owners and working with the team at Premier to further grow the business and serve customers throughout the Windsor market.

The acquired dealership including the collision centre generates in excess of $70 million in annual revenue. The transaction will be funded from a drawdown of the Company's credit facility and is expected to be accretive to 2023 earnings.

Premier, previously Dan Kane Chevrolet Buick GMC Cadillac, has served the local community for over 46 years. It features facilities of more than 42,000 square feet on five acres, including a collision centre that operates out of a 12,000 square foot facility with 14 service bays.

The current management team will continue to operate the business going forward, according to a news release.

AutoCanada is a multi-location automobile dealership group currently operating 83 franchised dealerships, comprised of 28 brands, in eight provinces in Canada as well as a group in Illinois, U.S.