AutoCanada resolves lawsuit against former CEO Patrick Priestner

Both AutoCanada, which now owns 83 franchised dealerships in Canada and the United States, and CanadaOne, which owns 29 new-car stores across four provinces, have continued to expand over the intervening four years.

In a joint statement Sept. 8, the two companies announced they had agreed to resolve the 2019 suit against Priestner. They did not provide full details about the settlement, but said neither party will admit wrongdoing or liability, and that some real estate will change hands as part of the resolution.

AutoCanada will sell two properties on which CanadaOne dealerships are located to CanadaOne, while CanadaOne will amend the leases for two properties it owns that house AutoCanada dealerships.

The two companies have also agreed to “co-operate on certain commercial matters for each other’s mutual benefit.”

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