AutoCanada Acquires Kavia Auto Body
EDMONTON, AB, Oct. 31, 2022 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced today that it has acquired Kavia Auto Body, a collision centre located in Saskatoon, Saskatchewan.
Kavia Autobody is a SGI Elite collision centre and has provided superior collision services to Saskatoon and the surrounding area for nearly 40 years. The store also maintains certifications with Tesla, GM, Ford, Kia, Stellantis, Nissan, Infiniti, Genesis, Honda, Acura, Subaru, and Hyundai. The business operates out of a state-of-the-art facility and is strategically located close to two of AutoCanada's dealerships: Dodge City Auto and Saskatoon Motor Products. This acquisition represents a continuation of the Company's goal to further expand and develop its national collision centre network to match AutoCanada's dealership network.
"The addition of this well-managed business continues the strategic expansion of our national collision presence in markets complementary to our existing dealerships," said Executive Chairman, Paul Antony. "Our focus remains on supporting our customers and OEM partners through the entire vehicle ownership lifecycle – which includes repairing vehicles by following OEM recommended repair procedures and using the recommended OEM parts to ensure the integrity of repaired vehicles. Kavia Auto Body has built a reputation for excellence and quality in servicing both domestic and imported vehicles in the Saskatoon market and we look forward to continuing its legacy into the future."
About AutoCanada
AutoCanada is a leading North American multi-location automobile dealership group currently operating 81 franchised dealerships, comprised of 28 brands, in eight provinces in Canada, as well as a group in Illinois, USA. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Ford, Infiniti, Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, Acura, Honda and Porsche branded vehicles. Additionally, the Company's Canadian operations segment currently operates three used vehicle dealerships and an auction business supporting the Used Digital Retail Division, the RightRide division operates 11 locations, and seven stand-alone collision centres (within our group of 22 collision centres). In 2021, our dealerships sold approximately 86,000 vehicles and processed over 800,000 service and collision repair orders in our 1,303 service bays generating revenue in excess of $4 billion.
About Westbridge Capital Ltd.
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About Westbridge Capital Partners Income Trust
Westbridge Capital Partners Income Trust is a Canadian domiciled Mutual Fund Trust managed by Westbridge Capital Ltd. The Fund makes high yield loans to mature operating companies and distributes the associated income stream to investors through monthly distributions.