AutoCanada Inc. Announces the Acquisition of Dodge City Chrysler Dodge Jeep Ram

EDMONTON, June 18, 2014 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ) announced today that it has obtained approval from Chrysler Canada to purchase the operating assets of Dodge City Auto (1984) Ltd. ("Dodge City"), which owns and operates a Chrysler Dodge Jeep Ram dealership located in Saskatoon, Saskatchewan.

Dodge City was originally founded over 45 years ago and operates from a leased facility which includes a six car showroom and twenty service bays. In 2013, the dealership retailed 1,056 new vehicles and 841 used vehicles.  The transaction closed today and was one of the eight dealership acquisitions previously announced on April 29, 2014.

Commenting on the transaction, Pat Priestner, Chairman and CEO of AutoCanada stated, "We are very excited to add a Chrysler dealership to the existing two dealerships of our Saskatoon platform, an excellent market for auto retail. We would like to thank Chrysler Canada for its hard work in assisting us with this transaction. We would also like to thank the Payne and Ens families for allowing us the opportunity to continue to build upon their wonderful legacy, and to welcome all of the employees of Dodge City to the AutoCanada family."

About AutoCanada

AutoCanada is one of Canada's largest multi-location automobile dealership groups, currently operating 36 franchised dealerships in eight provinces and has over 1,800 employees. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, Fiat, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, BMW and MINI branded vehicles. In 2013, our dealerships sold approximately 36,000 vehicles and processed approximately 364,000 service and collision repair orders in our 381 service bays during that time.

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

SOURCE: AutoCanada Inc.

Jeff Christie, CA
Vice-President, Finance
Phone:  [phone]
Email: [email protected]