AUSTIN, Texas — After a controversial year including the arrest of its namesake's relative in a murder-for-hire plot, Charles Mound Toyota of Austin has been bought by a Houston company.
According to a report from the Austin Business Journal, Group 1 Automotive Inc. of Houston has acquired the local business and will rename it Toyota of North Austin.
According to the report, the terms of the deal have not been disclosed. However, the deal adds to an acquisition streak for the Houston company. One of those included the largest deal in its history, with the $880 million acquisition of a Massachusetts-based company's assets.
The Austin Business Journal reports that the newly acquired dealership ranks among the top 20 nationally in Toyota new-vehicle volume. It's also the company's 16th Toyota dealership in the nation. Additionally, it's adding to Group 1's portfolio of 13 franchises in the Central Texas market alone.
To read the full Austin Business Journal report, click here.
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