March 2, 2024

Didcot Gateway

Building Cars, People First

Growing Foundation Automotive buys dealerships in Texas

Wichita Falls is northwest of Dallas, in close proximity to the Oklahoma border.

Kutschinski stated Foundation renamed 4 of the dealerships: Basis Cadillac-Buick-GMC Wichita Falls, Basis Chrysler-Dodge-Jeep-Ram-Fiat Wichita Falls, Foundation Hyundai Wichita Falls and Foundation Kia Wichita Falls. The BMW dealership’s name stays the same.

Jon Oeltjen, normal gross sales supervisor, and Brad Rodgers, typical supervisor, are staying on with Basis as handling companions.

Oeltjen is controlling associate for the Cadillac-Buick-GMC, Hyundai and the applied-vehicle dealership and is common supervisor of the BMW retail outlet. Rodgers is controlling lover of the Stellantis and Kia dealerships.

They every have possession stakes but Basis didn’t disclose percentages.

Patterson’s Honda and Mercedes-Benz dealerships in Wichita Falls were being not involved in the transaction, Kutschinski claimed. Nor was Patterson of Bowie, a Ford-Chrysler-Dodge-Jeep-Ram dealership in Bowie, Texas.

The Texas purchase marks Foundation’s to start with acquisition considering the fact that it acquired a Hyundai keep in Boulder, Colo., in July. In October, Basis marketed a Honda dealership in Ohio.

Kutschinski this thirty day period explained to Automotive News that Basis also expects to purchase a dealership in the Houston area in early March, in addition 4 dealerships in Tennessee later that month.

Foundation, of Calgary, Alberta, has a U.S. business office in Houston. With the Wichita Falls acquisition, Basis has 22 franchised dealerships distribute across Colorado, North Dakota and Texas, as well as three in Canada.