Canadian retailer Foundation Automotive enters Tennessee with purchase of four dealerships


Growing Canadian retailer Basis Automotive Corp. has entered a new point out and included a new model, Nissan, to its portfolio with its most recent acquisition of dealerships.

Basis Automotive acquired 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, according to Andy Gill, CEO of Gill Automotive Group, a provide-facet firm in St. Augustine, Fla., who represented the sellers in the offer.

Basis 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 perfectly as Chad Jones, Clark’s son, continue to owns Jones Ford in Savannah, which was not incorporated in the sale to Foundation, Gill explained.

Foundation stated Chad Jones “will carry on to get the job done with Foundation Automotive as an govt beneath the expansion of the utilized-car platform” for each of the group’s dealerships.

“The made use of-car system they have built at Jones Motor Co. is 2nd-to-none, and we are fortuitous to have Chad Jones on board to assistance broaden it to all of our merchants,” Basis CEO Kevin Kutschinski reported in a assertion.

The Canadian group, which purchased two stores and bought one particular in 2021, has been in development manner this calendar year.

In February, Foundation bought 5 franchised dealerships, as well as a applied-automobile dealership and two RV dealerships in Wichita Falls, Texas. And in March, the group bought a Stellantis dealership south of Houston.

Basis, of Calgary, Alberta, has a U.S. foundation in Houston. In addition to Tennessee and Texas, the team has dealerships in Colorado and North Dakota, as effectively as 3 in Canada.

Leave a Reply