Rapidly growing Canadian dealership group Foundation Automotive Corp. has acquired a Hyundai store in Colorado from auto retail giant AutoNation Inc.
The acquisition, Foundation's first Hyundai dealership, is just one of the more than a dozen U.S. dealerships the group hopes to acquire this year.
Foundation Automotive, based in Calgary, on Wednesday bought AutoNation Hyundai 104 in Northglenn, Colo., north of Denver.
Cole Kutschinski, Foundation's vice president of marketing, said the group approached AutoNation about whether it would be willing to sell the dealership.
"We've been speaking with Hyundai for some time looking at different opportunities," Kutschinski told Automotive News. "They said that it might be available. So we approached and it worked out."