Business
AutoCanada Agrees to Acquire Rose City Ford in Windsor
AutoCanada Agrees to Acquire Rose City Ford in Windsor Canada NewsWire EDMONTON,...
About this update from Autocanada Inc.
[{"type":"text","content":"\n\n\n\nAutoCanada Agrees to Acquire Rose City Ford in Windsor\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nEDMONTON, Nov. 19, 2018\n\n\n\nEDMONTON, Nov. 19, 2018 /CNW/ - AutoCanada Inc. (\"AutoCanada\" or the \"Company\") (TSX:ACQ) announced that it has agreed to acquire Rose City Ford Sales Limited (\"Rose City Ford\").  Rose City Ford is one of two Ford dealerships in Windsor, Ontario, with a 65,000 square foot facility, an 11-vehicle showroom, 28 service bays and a collision centre. \n\n \n \n\n \n\"We are very excited to acquire our first Ford dealership, an acquisition that will advance our strategy of diversifying the brand and geographic mix in our portfolio of dealerships,\" said Paul Antony, Executive Chairman of AutoCanada.  \"We would like to thank Rose City Ford and Ford of Canada for their confidence in AutoCanada and we look forward to building a strong partnership with Ford.\"\n\"We can't wait to welcome the Rose City Ford team to AutoCanada and we look forward to continuing to build the Ford brand in Windsor with them,\" stated Michael Rawluk, President of AutoCanada.\nFord Motor Company of Canada, Limited and AutoCanada have signed a letter of intent with respect to the future operation of Rose City Ford.\nThe pending acquisition of Rose City Ford by AutoCanada remains subject to customary closing conditions. The acquisition is expected to close in December 2018.\nAbout AutoCanada\nAutoCanada is a leading North American multi-location automobile dealership group currently operating 69 franchised dealerships, comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, USA and has over 4,200 employees. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, Smart, BMW, MINI, Volvo, Toyota, Lincoln and Honda branded vehicles. In 2017, our dealerships sold approximately 63,000 vehicles and processed approximately 870,000 service and collision repair orders in ou...