After nearly 25 years of business, a Texoma auto dealership is getting a new face and a new name. Representatives with Florida-based Ed Morse Automotive Group announced Tuesday that it has acquired the Hoyte Auto Group of dealerships.
As a part of the purchase, the automotive group will take over operations of three Hoyte dealerships, including locations in Sherman, Whitesboro and Durant, Oklahoma and a truck accessory store in Sherman. Hoyte Dodge Ram Chrysler Jeep RAM first entered the Texoma market in 1996 and most recently expanded into Durant with its latest dealership.
Ed Morse entered into the Texas market in 2019 when it acquired seven franchises in the Metroplex. Following the success in region, the group pursued additional locations across North Texas.
“In January (2019) we purchased seven franchises in the Dallas market and were immediately impressed with our acquired workforce, the local passion for cars and how warmly we were welcomed to the community,” said Teddy Morse, chairman and CEO of Ed Morse Automotive Group. “It was obvious to our leadership team that we wanted to expand and grow our footprint in this region. We jumped at the chance to continue this growth in outstanding communities like Sherman, Whitesboro and Durant.”
Talks surrounding the purchase started in the spring of 2019 and were completed late Monday night. Morse said he was inspired to purchase the operation in part by the look of the dealership and the level of detail that was paid to presentation.
“You know if they are paying attention to the little things, they are probably paying as much attention to the big things,” he said.
Under the new ownership, the Sherman dealership will be renamed Freedom Chrysler Dodge Jeep Ram North by Ed Morse. The nearby truck accessory shop, located at 2407 N. Travis, will continue operations as Red River Truck and 4x4.
The Whitesboro dealership, located at 65 Riley Road, will be renamed Freedom Ram Trucks by Ed Morse. Meanwhile, the Durant Hoyte location will be renamed as Freedom Chrysler Dodge Jeep RAM Fiat by Ed Morse as a part of the transition.
Despite the change in ownership, and other changes that are in store for the business, Morse said Tuesday during a visit to Durant that he did not anticipate any major personnel changes with the transfer. Morse said he sees all of the former Hoyte employees as now part of the Morse Automotive family.
“We are buying the dirt and the assets, but we can’t run it without the people,” he said, in an interview.
Morse added that there will be some changes to the business model under new leadership, but declined to comment on many of them this early in the transition. One of the changes he would like to pursue is a larger focus and outreach toward the Hispanic market in the region.
“Hoyte has built an amazing business in the Sherman, Durant and Whitesboro market, and while we won’t say we do it better than them, we will say we do some things differently than they do,” Morse said.
The Ed Morse Automotive Group is headquartered in Delray Beach, Florida and has been family owned for more than seven decades. With the addition of the Hoyte Auto Group, Morse will add an additional 130 employees to their current 1,100 employee base. The addition will grow the chain to 20 dealerships, 33 franchises and 14 automotive brands.