AutoCanada Inc. is celebrating the completion of the sale of Toyota of Lincolnwood in Illinois.
“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.
The sale is part of AutoCanada’s plan to leave the U.S. market and focus on its Canadian dealership and collision repair businesses. AutoCanada classified its U.S. operations as discontinued at the end of 2024 after the division posted a $103.4 million loss that year.
The business was sold for approximately $40.1 million in cash, excluding inventory and net working capital.The Edmonton-based dealership and collision repair group will use net proceeds from the sale to reduce the outstanding balance of its revolving credit facility.
Toyota of Lincolnwood generated approximately $79.4 million in revenue and $5.8 million in net income during the 12 months ended March 31, 2026. In 2024, the dealership generated $110.6 million in revenue and no net income.
The transaction brings gross proceeds from seven completed U.S. dealership divestitures to approximately $105.9 million, net of working capital.
Management continues to estimate total proceeds from the U.S. exit toward the upper end of the previously disclosed $115 million to $130 million range.
All dollar amounts are Canadian.
