Craig Ford sells business to Cook Chevrolet
January 22, 2014
CraigCraig — Cook Chevrolet owner Scott Cook is buying Craig Ford. — Cook Chevrolet owner Scott Cook is buying Craig Ford.
Craig — Cook Chevrolet owner Scott Cook is buying Craig Ford.
The deal is nearly finished, and Cook is happy to buy a local dealership — ultimately expanding his business opportunities in Craig.
"We decided that it was a good opportunity for some of our employees and some of their employees," Cook said, noting that he will retain all 10 of Craig Ford's workers. "We want to add to the people they got, and we want to grow the business."
After owning Craig Ford for 29 years, owner Jerry Thompson is ready to retire and focus on farming in the summer, he said.
"We've had a hard time keeping things going, so I'm certainly ready for the change. I'm glad somebody local is going to stay involved," Thompson said. "I still farm a little bit of ground. I'll farm in the summertime, and I'll have a little more free time in the winter."
Thompson farms roughly 400 acres of wheat each year.
Although Cook is purchasing all of Craig Ford's assets, he will lease the 18,000-square-foot building from Thompson.
"He'll have an option to buy at some point down the road if he decides to," Thompson said.
As far as customers and car warranties go, the community doesn't need to worry, Cook and Thompson said.
"We're going to take care of the people like they were one of our customers, and the warranty goes with the vehicle," Cook said, ensuring Craig Ford deals made with customers will remain intact.
Additionally, Cook plans to expand the business and hire new employees. Craig Ford currently has about 30 vehicles for sale. Cook Chevrolet has roughly 80 in Craig and nearly 70 at its Steamboat Springs dealership.
"I think it's a good deal for the community," Cook said.
Cook Chevrolet in Craig is located on a 27,000-square-foot property, and the Steamboat dealership is housed in a 16,000-square-foot space.
Cook declined to release the financial details of the deal.