AutoCanada (TSE:ACQ) has released an update.
AutoCanada Inc. has strategically divested two of its Stellantis stores in Alberta to sharpen focus on its core operations, aiming to enhance profitability and reduce debt. The sale of these dealerships, which collectively generated $86.5 million in sales, resulted in immediate financial gains and will be used to pay down the company’s revolving credit facility. This move is expected to improve AutoCanada’s earnings and Adjusted EBITDA margin.
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