A local car dealership is changing hands.
AutoCanada Inc. has announced it has acquired Premier Chevrolet Cadillac Buick GMC in Windsor.
The dealership on Division Road at Sydney Avenue includes has 14 service bays and a collision centre.
It's the third dealership for AutoCanada Inc. in Windsor.
Premier was previously known as Dan Kane Chevrolet Buick GMC Cadillac but an ownership change occurred a few years ago.
According to a release, executive chairman Paul Antony stated "this acquisition not only adds a dealership with significant growth potential to our portfolio, but also brings a certified collision centre into the AutoCanada Collision platform."
The release goes on to say, "the acquired dealership including the collision centre generates in excess of $70 million in annual revenue. The transaction will be funded from a drawdown of the Company's credit facility and is expected to be accretive to 2023 earnings."
AutoCanada Inc. says the current management team will continue to operate the business going forward.