ROGERS, Ark., Dec. 01, 2023 (GLOBE NEWSWIRE) — America’s Car-Mart, Inc. (NASDAQ: CRMT) (“Car-Mart” or the “Company”) today announced that its subsidiary, America’s Car Mart, Inc., has entered into a definitive agreement to purchase the ongoing dealership assets of Allied Union Group, Inc., an Arkansas corporation doing business as Central Auto Sales. The existing finance receivables will be excluded from the transaction and will be collected by the seller. Car-Mart expects to close the transaction later this month.
Mike and Stacey Steven-Assheuer founded Central Auto Sales in Hot Springs, Arkansas, in 1996. The acquisition of Central Auto Sales will enhance Car-Mart’s presence in Hot Springs and expand its reconditioning capabilities.
“This transaction is consistent with our strategy to grow the business through acquisitions, delivering exceptional returns for our shareholders while providing exit opportunities for owner-operators and offering future growth prospects for their associates,” said Douglas Campbell, Chief Executive Officer. “Mike and Stacey have created a robust business that provides affordable, high-quality vehicles and exceptional customer service. We warmly welcome them and their committed team of associates to the Car-Mart family.”
Learn more in the press release.