EDMONTON – Car dealership operator AutoCanada Inc. (TSX:ACQ) announced the purchase of two Volkswagen dealerships in British Columbia Thursday.
The Edmonton-based company, one of Canada’s largest multi-location automobile dealership groups, said it hopes to resume operations at the former Valley Autohouse dealerships in Abbotsford and Chilliwack next week.
The two dealerships, which will continue to operate under the names of Abbotsford Volkswagen and Chilliwack Volkswagen, were shut down after they went into receivership Oct. 27.
The Abbotsford facility has been in operation since 1986 and sold approximately 210 new and 190 used vehicles last year.
The newer Chilliwack dealership retailed approximately 30 new and 40 used vehicles in 2010.
AutoCanada said the company was pleased to expand its presence in the province.
“We are excited to continue to build our relationship with Volkswagen Canada and we believe that VW will continue to be one of the fastest growing brands in North America,” CEO Pat Priestner said in a statement.
AutoCanada, currently operates 24 franchised dealerships in British Columbia, Alberta, Manitoba, Ontario, New Brunswick and Nova Scotia.
On the Toronto Stock Exchange, its shares closed up four cents at $5.29 on Thursday.