AutoCanada says this week it received official approval from Chrysler Canada to purchase the operating assets of Toronto Dodge Chrysler Ltd.
The acquisition was expected to close Oct. 20. It is the 14th Chrysler store under the AutoCanada umbrella.
Toronto Dodge was founded in 1986 and operates from a leased facility. The current store boasts a seven-car showroom and 14 service bays. In 2013, the dealership retailed 615 new vehicles and 199 used vehicles.
Commenting on the transaction, Pat Priestner, chairman and CEO of AutoCanada, says the group is excited to add a Chrysler dealership to the existing three dealerships of the Toronto platform.
“We would like to thank Chrysler Canada for its hard work in assisting us with this transaction. We look forward to servicing the loyal customers and to welcome all of the employees of Toronto Dodge to the AutoCanada family.”
AutoCanada currently operates 45 franchised dealerships in eight provinces and has over 2,700 employees. AutoCanada sells Chrysler, Dodge, Jeep, Ram, Fiat, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, Kia, BMW and MINI branded vehicles.
In 2013, its dealerships sold approximately 36,000 vehicles and processed approximately 364,000 service and collision repair orders.