AutoCanada Grows with New Ontario Dealership

AutoCanada (TSE:ACQ) has released an update.

AutoCanada Inc. has expanded its dealership network with the acquisition of Nurse Chevrolet Cadillac in Whitby, Ontario, increasing its Ontario footprint to 23 locations and adding a new Cadillac store to its portfolio. The well-established dealership and collision center, which boasts annual revenues exceeding $80 million, will continue to be operated by its current management team. This strategic move is expected to be accretive to AutoCanada’s 2024 earnings and enhances its relationship with General Motors Canada.

For further insights into TSE:ACQ stock, check out TipRanks’ Stock Analysis page.