Driving the news: AutoCanada sold two Chicagoland dealerships to Berman Automotive Group as it continues its exit from the U.S. market. The deal closed April 10.
For context: AutoCanada, which does business in the U.S. under its Leader Automotive Group subsidiary, sold Kia of Lincolnwood and Hyundai of Lincolnwood, about 12 miles northwest of Chicago.
The stores were renamed Berman Kia and Berman Hyundai.
AutoCanada sold a Toyota dealership in January, too, as part of its ongoing divestiture plan.
Haig Partners represented the sellers in the deal.
What they’re saying: Kevin Nill, a managing director with Haig Partners who led the deal, said in a release that the stores were “important assets in a highly competitive automotive retail market…”
“Berman Automotive Group brings both scale and a long-standing commitment to the Chicagoland community, making them an excellent long-term steward for these dealerships,” Nill said in the release.
You can see this deal announcement and many more throughout the entire year by visiting the CDG Buy/Sell tracker at CDGbuysell.com, powered by:
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