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Chicago & Midwest  + South Side  + Retail  | 

AutoCanada Makes U.S. Debut with Buy of Chicago Dealerships

Illinois’ oldest family-owned car dealership will have cross-border ownership as AutoCanada acquires Grossinger Auto Group. The Edmonton, Alberta-based company will pay $86 million to acquire nine dealerships from the third generation of the Grossinger family, including three locations in Chicago, five in the suburbs and one in downstate Normal. A 10th dealership was sold separately.

Expected to close in the second quarter, the deal will mark AutoCanada’s entry into the U.S. market. “Acquiring a cluster of dealerships in Chicago gives us a significant presence in a major urban market, and follows our pattern of success in Canada,” said AutoCanada CEO Steven Landry.

Founded in 1928, Grossinger Auto generated $401 million in revenues in 2017. The Grossinger family was advised by Kerrigan Advisors on the sale.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition