Growing Canadian dealership group Foundation Automotive Corp. made its first acquisition of 2022 and expanded its presence in Texas with the purchase of five franchised dealership rooftops on Wednesday.
Foundation bought BMW of Wichita Falls, Patterson Buick-GMC-Cadillac, Patterson Dodge-Chrysler-Jeep-Ram-Fiat, Patterson Hyundai and Patterson Kia, all in Wichita Falls, from Patterson Auto Group. The deal also included a used-vehicle dealership and two RV dealerships in Wichita Falls.
The group bought the dealerships from Patterson Auto CEO Paul Tigrett, Foundation CEO Kevin Kutschinski told Automotive News in an email. The BMW brand and RV dealerships are new to Foundation's portfolio.