America’s Car-Mart of Rogers said it will acquire Taylor Auto Credit of Taylor, Texas, in a deal that should close by the end of the year.
Terms of the deal were not disclosed. Taylor Auto Credit was founded in 1990 by Keith and Marcia Hagler; it has one location in Taylor according to its website.
America’s Car-Mart CEO Jeff Williams said the company was eager to move into the Taylor market, which is just outside of Austin. He said America’s Car-Mart (Nasdaq: CRMT) would also close on a Knoxville, Tennessee, dealership as part of its acquisition of Smart Auto Inc., which was first announced in December 2021.
“We are excited to be adding the Taylor, Texas area to our footprint and expanding our customer base in a thriving and growing market,” Williams said. “Taylor Auto Credit brings a rich history of serving customers with a talented team of associates that we welcome into the Car-Mart family. We are excited for the opportunities to grow our business in this market.
“We are looking forward to getting to know customers and to continue their great history of ‘keeping them on the road.’ They will be a fantastic addition to our business and will help us build a better future for the company, our associates, and our customers.”