Grossinger to AutoCanada in Record Cross-Border Sale
Chicago’s Grossinger Auto Group has sold 15 stores to AutoCanada in an acquisition billed as the largest ever to cross international lines.
Illinois’ oldest continually operating dealership group has been sold to Canada’s largest auto retailer. Photo by Pedro Szekely via Flickr
CHICAGO — Chicago's Grossinger Auto Group has sold its 15 stores to AutoCanada, Canada’s largest automotive retailer. Closed April 9, the transaction is said to be the largest acquisition to date of a U.S. dealership group by an international buyer.
Ranked among the nation’s top 100 auto dealers, 90-year-old Grossinger is Illinois’ longest-running dealership group, generating $401 million in revenues in 2017 from stores representing 11 manufacturers. The group operated nine franchises within the metropolitan Chicago area, America’s third-largest retail auto market, and six stores in an automall in Bloomington-Normal, Ill.
Grossinger was represented by attorneys with New York law firm Akerman LLP. Under the terms of its sale to AutoCanada, a majority of its dealerships will continue to run under the Grossinger name. As part of the transaction, the new owners said they plan to retain local store leadership and staff, thereby ensuring business continuity, and leveraging their acquisition to accelerate growth in the U.S. market.
“Once we decided to sell our business we needed to ensure we found a purchaser who was aligned with our priorities of providing employee security, continuity of our community relationships, and our focus on the customer experience,” said Caroline Grossinger, former co-owner with sibling Gary Grossinger of Grossinger Auto Group. “We were able to find those priorities within the AutoCanada team and Akerman helped us achieve our objectives throughout the process.”
The Akerman team that led the transaction included Jonathan Awner, co-chair of the Corporate Practice Group, Chicago partner David Blum, Automotive Retail Practice Chair Scott Wasserman and Miami partner Brenda Goerks in the Real Estate Practice Group. The team assisted the client in a multifaceted, complex transaction involving multiple compliance and diligence considerations for 11 different manufacturers. The deal also required especially close collaboration with AutoCanada to meet their needs in conjunction with U.S. law, all according to the announcement.
More F&I
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Lifetime Battery F&I Product Meant to Drive Dealer Traffic
EFG Cos. offering is intended to create lifetime auto dealer engagement with customers.
Read More →
The Psychology Behind Menus That Increase Add-On Sales
There is a science to crafting a menu that gives customers confidence in the choices presented, and moving the process outside the F&I office can further boost results.
Read More →
Why Your F&I PVR Is Misleading You
Here’s a handy checklist of the numbers to track in 2026 instead.
Read More →
Auto Consumer Anxiety Presents Opportunity
A survey of U.S. drivers found the majority are concerned about finances and the economy, but those fears make many ready to buy vehicle-protection products.
Read More →
Humble and Hungry: 12 Rules for an F&I Life
Dustin Gingerich, with a decade in the F&I business under his belt, shares his thoughts on leadership, building trust with customers, and the importance of learning and innovation.
Read More →
Focus on the Opening
F&I managers must learn as much as possible about their customers, starting before they walk into their offices. The bulk of today’s consumers expect that, and good results will follow.
Read More →
F&I Reaches for the Sky
The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.
Read More →
What Market Timing Mistakes Mean for Your Reinsurance Program
When volatility hits, dealer-owned reinsurance programs face a familiar temptation: pull back and wait for calmer waters. New data from BOK Financial shows why that instinct can quietly cost you years of surplus growth.
Read More →
The 90/10 Rule
In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.
Read More →