Dealerships in Chilliwack, Abbotsford sold in 3-dealership transaction worth $32.2 million

CHILLIWACK/ABBOTSFORD/DUNCAN, B.C. – AutoCanada Inc. says it has completed the sale of three dealerships in B.C., including one in Chilliwack and another in Abbotsford, for total proceeds of about $32.2 million.

The group of dealerships includes the Chilliwack Volkswagen, Abbotsford Volkswagen, and Island Chevrolet Buick GMC in Duncan, B.C.

The company said the dealerships operated outside of its core regional clusters, which limited opportunities for scale and efficiency.

Samuel Cochrane, AutoCanada CEO, says the transaction reflects its approach to capital allocation and that it will not tolerate assets that don’t meet its long-term return objectives.