Cannon Motor Co. of Oxford, Miss., has acquired three dealerships to add to its footprint in the Southern state.
Cannon Motor on May 2 bought Estabrook Toyota in Moss Point, Estabrook Ford-Lincoln in Pascagoula and Estabrook Nissan in Pascagoula from Estabrook Motor Co., Cannon Motor CFO Andrew Wood told Automotive News in an email. These were the Estabrook family’s only dealerships.
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“These stores have done really well, have a great reputation and great people working there,” Wood said in the email. “We’ve been wanting to expand to the Mississippi Gulf Coast due to the population growth and opportunity in the area.”
The dealerships were renamed Cannon Toyota, Cannon Ford-Lincoln of Pascagoula and Cannon Nissan in Pascagoula.
Cannon Motor, a family-operated company, formed in 1956 in Calhoun City, Miss., starting as a used-car business.
The group has 19 franchised dealerships across Mississippi and Arkansas, plus three used-vehicle dealerships in Mississippi.
Wood said the group is open to more growth “if the right opportunity comes along.”
Gerrick Wilkins, vice president and buyer’s broker representative for Dealer Support Network, a firm with offices in Winnsboro, Texas, and Leeds, Ala., represented the buyer in the transaction.