Canadian dealership group Foundation Automotive Corp., fresh off an acquisition of five Texas rooftops in February, recently made another purchase in the Lone Star State.
Foundation bought Southfork Chrysler-Dodge-Jeep-Ram in Manvel, Texas, south of Houston, on March 31.
The group bought the dealership from Affinity Dealer Group co-owners Bruce Glascock and Alfred Flores, and Chris Godwin, who was a managing partner in the dealership, according to a Foundation Automotive spokeswoman.
Foundation, which is keeping the dealership's name, noted that Henry Pimentel, the dealership's general manager, is staying on with the group as managing partner. Pimentel has an ownership stake in the store, but Foundation didn't disclose the percentage.
Dick Pryor of Tim Lamb Group, a buy-sell firm in Columbus, Ohio, represented the sellers in the transaction.
Foundation, of Calgary, Alberta, has a U.S. base in Houston.
In February, 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, Texas, from Patterson Auto Group.
