America’s Car-Mart Inc. of Rogers said it was acquiring Smart Auto Inc. and its two used-car dealerships in Tennessee.
Terms were not disclosed. America’s Car-Mart said it would close on the company’s location in Johnson City by the end of this year and close on the Knoxville location by the end of 2022; Smart Auto also has a dealership in Las Vegas that was not included in the transaction.
“We are very excited to welcome Smart Auto into the Car-Mart family,” America’s Car-Mart CEO Jeff Williams said. “Smart Auto brings a highly experienced and talented team of associates while also helping to create a stronger presence and expanding our footprint in Tennessee. We are excited for the opportunities to grow our customers in this market.”
The two additions will give America’s Car-Mart 155 locations in 12 states. Williams has stated his goal is to have 100,000 customers by April 2022; the company reported more than 93,000 customers by the end of the second quarter of fiscal 2022 in November.