CRMT - America's Car-Mart to Acquire Texas Auto Center | Benzinga
ROGERS, Ark., May 02, 2024 (GLOBE NEWSWIRE) -- America's Car-Mart, Inc. (NASDAQ:CRMT), today announced that it has entered into a definitive agreement to purchase the dealership assets of Texas Auto Center ("TAC"). The transaction, which excludes legacy finance receivables, is expected to close in the first quarter of Car-Mart's 2025 fiscal year, which begins May 1, 2024.
Since founding Texas Auto Center in 1995, Bob and Erika Blankenship have grown their operation into an award-winning dealership group with locations in Austin and San Marcos, Texas.
"The acquisition of Texas Auto Center furthers our commitment to acquisitions being a part of our growth strategy. This acquisition will deliver exceptional outcomes for our customers, associates, and shareholders. TAC's high-performance culture, customer focus, and strong alignment of values makes it a fantastic addition to what is an already great team," said Douglas Campbell, President and Chief Executive Officer. "Bob and Erika are highly respected industry veterans with decades of experience delivering quality used vehicles and excellent service to their customers. We are excited to welcome them, and the entire Texas Auto Center team, to America's Car-Mart."
"We are very excited to enter into this relationship," said Bob Blankenship. "My wife, Erika, and I have devoted nearly thirty years to building our business and have been honored to forge relationships with our customers. With the help of our dedicated associates, we have grown to two large dealerships, proudly serving the Austin metro area."
"America's Car-Mart operates with integrity, respect, and compassion, making it the perfect fit for us," ...