Indiana-based J.D. Byrider has added three formerly franchised locations, including one in Nashville, to its portfolio of company-owned used vehicle dealerships.
Chris Hadley, who had operated the newly added trio of locations in Nashville, Florence, Ky., and Dayton, Ohio, will join the J.D. Byrider corporate staff to focus on company store development.
“The acquisition of three franchise locations puts us further on a path of growth for J.D. Byrider’s company-owned portfolio,” Steve Wedding, J.D. Byrider CEO, said in a release.
Since the beginning of 2012, J.D. Byrider, has opened 12 franchise locations. An additional location in Memphis is scheduled to open by the end of year, with initial plans for 2013 calling for 14 new franchised locations.
The company, which in October achieved $1 billion in sales, has 145 locations in 31 states. Altamont Capital Partners purchased J.D. Byrider in May 2011. Earlier this year, J.D. Byrider completed its first asset-backed securitization, a $145 million deal led by RBS Securities.