AutoCanada Acquires Airdrie Autobody

EDMONTON, AB, Oct. 4, 2021 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced that it has completed the acquisition of Airdrie Autobody, a collision centre located in Airdrie, Alberta.

Airdrie Autobody has been providing high quality service to the Airdrie community for over 25 years and is strategically located close to seven of AutoCanada's dealerships including: Airdrie Chrysler Dodge Jeep Ram, Courtesy Chrysler, Crowfoot Hyundai, Fish Creek Nissan, Hyatt Infiniti, Northland Volkswagen, and Tower Chrysler. The acquisition supports the Company's strategy to develop its national collision centre network to match AutoCanada's existing dealerships.

"The addition of this well-managed business marks the fourth collision centre acquisition since Q4 2020 and aligns with our goal of expanding our national collision centre footprint," said Executive Chairman, Paul Antony. "Our focus remains on supporting our customers and OEM partners through the entire vehicle ownership lifecycle – including collision repair. Increasing vehicle complexity puts a further emphasis on fixing vehicles the right way – using parts and procedures prescribed by the OEM."

About AutoCanada

AutoCanada is a leading North American multi-location automobile dealership group currently operating 66 franchised dealerships, comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Ford, Infiniti, Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, Honda and Porsche branded vehicles. Additionally, the Company's Canadian operations segment currently operates two used vehicle dealership supporting the Used Digital Retail Division, and three stand-alone collision centres (within our group of 18 collision centres). In 2020, our dealerships sold approximately 66,000 vehicles and processed over 756,000 service and collision repair orders in our 1,098 service bays generating revenue in excess of $3 billion.

Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.

SOURCE AutoCanada Inc.

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