Local auto dealerships acquired by Texas firm

July 27, 2007
Indianapolis-based Royce Motors Inc., which operates three buy-here/pay-here car lots in its hometown, has been acquired by subsidiaries of Dallas-based Manchester Inc. for $5.3 million.

Lot employees and executives will be retained, Manchester said.

A recorded message at Royce said its home office is closed and operations would be transferred to a new facility.

Earlier this month, Royce Motors parent Royce Inc. sold its Illinois consumer-finance business Royce Financial Inc. to World Acceptance Corp. of Greenville, S.C.., to avoid the prospect of paying a gross-receipt tax in Illinois.
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