AutoCanada Inc. (TSX:ACQ) acquired Velocity Autobody Inc. on August 12, 2022. The acquired dealership generates in excess of CAD 3.5 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 2022 earnings.

AutoCanada Inc. (TSX:ACQ) completed the acquisition of Velocity Autobody Inc. on August 12, 2022.