America's Car-Mart, Inc. completed the acquisition of Dealership assets of Texas Auto Center for $22.5 million.
June 02, 2024
Share
America's Car-Mart, Inc. (NasdaqGS:CRMT) agreed to acquire Dealership assets of Texas Auto Center on May 2, 2024. The transaction is expected to close in the first quarter of Car-Mart?s 2025 fiscal year, which begins May 1, 2024.
America's Car-Mart, Inc. (NasdaqGS:CRMT) completed the acquisition of Dealership assets of Texas Auto Center for $22.5 million on June 3, 2024. Cash paid on the closing date was $7.5 million, primarily used for vehicle inventory. Sellers may receive a performance-based earn-out in the future ranging from zero to a maximum of $15 million.
America's Car-Mart, Inc. is an automotive retailer in the United States. The Company operates in the integrated auto sales and finance segment of the used car market. In this industry, the nature of the sale and the financing of the transaction, financing processes, the type of customer and the methods used to distribute the Companyâs products and services, including the actual servicing of the contracts, as well as the regulatory environment in which the Company operates, all have similar characteristics. The Companyâs operations are principally conducted through its two operating subsidiaries, Americaâs Car Mart, Inc., an Arkansas corporation (Car-Mart of Arkansas) and Colonial Auto Finance, Inc., an Arkansas corporation (Colonial). The Company primarily sells older model used vehicles and provides financing for substantially all of its customers. The Company operates approximately 156 dealerships located primarily in small cities throughout the South-Central United States.
AMERICA'S CAR-MART, INC. 
