posted November 5, 2009
Chattanooga Auto Auction has a new owner. Acacia Automotive, a Texas Corporation, has executed the agreements to acquire the auction’s assets.
Acacia’s executive team took control of the business Sept. 1, under a management agreement in preparation for next month’s physical change of ownership.
“We are absolutely thrilled to have succeeded in acquiring Chattanooga Auto Auction,” said Acacia CEO Steve Sample. “It is ideally located at the apex of three major Interstate highways, one exit from the airport, and comes complete with a beautiful, modern facility on 56 acres.”
Acacia Automotive is a small publicly-traded company that plans to expand its operations, beginning with Chattanooga Auto Auction. “Under our master plan to acquire many additional auto auctions across America, we think we hit the jackpot in Chattanooga, and can’t wait to be an important part of this vibrant economy,” said Mr. Sample.
Acacia also owns Augusta Auto Auction, and plans to acquire many more.
In addition to hiring more people to work the auction, Acacia will consider housing regional offices (or even national offices) in Chattanooga.
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