AutoCanada Inc. has completed the sale of Toyota of Lincolnwood in Lincolnwood, Illinois, for approximately $40.1 million in cash, excluding inventory and net working capital.
The dealership was part of the company’s U.S. operations, which were classified as discontinued operations at the end of 2024, and generated a net loss of $103.4 million in 2024.
“The sale of Toyota of Lincolnwood marks a significant milestone in our U.S. exit and reflects the progress we have made on the strategic decision to focus our capital and management attention on our core Canadian dealership and collision operations,” said Samuel Cochrane, Chief Executive Officer and Interim Chief Financial Officer of AutoCanada. “While the divestiture process has taken longer than originally anticipated, we have now generated approximately $106 million of proceeds from our U.S. dealership sales.”
AutoCanada said it continues to anticipate total proceeds from its U.S. exit toward the upper end of its previously disclosed range of $115 million to $130 million.
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