Growing Canadian retailer Foundation Automotive Corp. has entered a new condition and added a new brand name, Nissan, to its portfolio with its most up-to-date acquisition of dealerships.
Foundation Automotive bought Jones Buick-GMC, Jones Chrysler-Dodge-Jeep-Ram and Jones Nissan in Savannah, Tenn., and Jones Chevrolet Humboldt in Humboldt, Tenn., from Jones Motor Co. on Friday, in accordance to Andy Gill, CEO of Gill Automotive Group, a promote-facet business in St. Augustine, Fla., who represented the sellers in the deal.
Foundation is retaining the dealership names.
Savannah is east of Memphis and just north of the Mississippi and Alabama borders. Humboldt is northwest of Savannah.
Jones Motor Co., owned by brothers Clark Jones and Charlie Jones as well as Chad Jones, Clark’s son, continue to owns Jones Ford in Savannah, which was not included in the sale to Foundation, Gill mentioned.
Foundation reported Chad Jones “will continue to get the job done with Basis Automotive as an govt under the expansion of the employed-motor vehicle system” for each of the group’s dealerships.
“The used-automobile platform they have built at Jones Motor Co. is 2nd-to-none, and we are fortuitous to have Chad Jones on board to support develop it to all of our suppliers,” Foundation CEO Kevin Kutschinski reported in a statement.
The Canadian team, which acquired two outlets and marketed one particular in 2021, has been in growth method this year.
In February, Basis acquired 5 franchised dealerships, plus a used-auto dealership and two RV dealerships in Wichita Falls, Texas. And in March, the team purchased a Stellantis dealership south of Houston.
Basis, of Calgary, Alberta, has a U.S. foundation in Houston. In addition to Tennessee and Texas, the group has dealerships in Colorado and North Dakota, as well as a few in Canada.