
America’s Car-Mart Inc. of Rogers on Friday announced a deal to acquire the ongoing dealership assets of Allied Union Group Inc. of Hot Springs, an Arkansas company doing business as Central Auto Sales.
Financial terms of the deal were not disclosed. The transaction is expected to close later this month.
In a news release, Car-Mart said the existing finance receivables will be excluded from the transaction and will be collected by the seller.
Car-Mart CEO Douglas Campbell said the transaction is consistent with the publicly traded company’s strategy to grow its business through acquisitions. The deal is also expected to expand Car-Mart’s vehicle reconditioning and warranty servicing capabilities. Central Auto has a 15-lift maintenance facility on site.
Mike and Stacey Steven-Assheuer founded Central Auto Sales in Hot Springs in 1996.
“Mike and Stacey have created a robust business that provides affordable, high-quality vehicles and exceptional customer service,” Campbell said. We warmly welcome them and their committed team of associates to the Car-Mart family.”
In a statement, Mike Steven-Assheuer said the deal brings a “brighter future” for Central Auto and its employees.
“Car-Mart brings strength to the industry and a commitment to excellence for our customers, employees, and community,” he said. “We are grateful to be joining one of the largest publicly traded automotive retailers in the United States.”