Driving the news: Foundation Automotive Corp completed a full-circle deal in Tennessee, selling four dealerships back to Jones Motor Company—the same company that originally sold them to Foundation in 2022.
For context: The June 25 transaction involved Jones Chevrolet Humboldt, Jones Nissan of Savannah, Jones GMC of Savannah, and Jones Chrysler Dodge Jeep Ram of Savannah with Performance Brokerage Services handled the deal.
Why it matters: Foundation Automotive has been systematically divesting outlying operations as part of a broader effort to prioritize concentrated market presence over scattered footprints.
What we're watching: For Jones Motor Company, getting back stores they know well allows them to strengthen their Tennessee market position while Foundation doubles down on markets where they can achieve greater operational efficiency and management control.
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