Calgary-based dealership group Foundation Automotive Corp. has purchased five U.S. dealerships in what it calls “just the beginning of our 2019 growth.”
Foundation has added Henson Ford, Henson Chevrolet Buick GMC and Henson Chrysler Dodge Jeep Ram, located in Madisonville, Texas, as well as Kupper Chevrolet and Kupper Subaru, in Mandan, North Dakota.
Foundation didn’t say how much it paid for the five dealerships.
“They are good stores with good people running them and we like that,” Foundation COO Chuck Kramer said in a statement. “What we're doing is coming in and re-working some of the key processes, creating efficiencies and providing additional support.”
Foundation Automotive Corporation is a small up-and-coming dealership group with an aggressive growth strategy. It currently owns two dealerships in Western Canada and the five recently acquired U.S. stores.
“Foundation looks forward to owning a total of 26 stores by the end of 2019,” CEO Kevin Kutschinski said in a statement. “These future acquisitions will be in the U.S.”
Foundation owns Dodge-Chrysler-Jeep-Ram stores in Squamish, B.C., and Drayton Valley, Alta.