E Automotive Inc. d/b/a E INC (TSX: EINC) (the “Company” or “E INC”) and sub-brand, EBlock, announced that it has acquired Louisiana’s 1st Choice Auto Auction (“LAFCAA”), an independent auction marketplace that has historically transacted over 15,000 vehicles annually. LAFCAA is a 34-acre top-tier auction facility located in Hammond, Louisiana, 60 miles north of New Orleans.
“The acquisition of Louisiana’s 1st Choice is another example of us executing our land-meets-technology strategy. This acquisition supports the launch of the EBlock platform in the U.S. Southeast market, which we announced earlier this year,” said Jason McClenahan, President and CEO of E INC. “The addition of physical auctions to our digital dealer-to-dealer platform is a natural extension of our commitment to supporting the evolving needs of our dealer partners. By connecting physical auctions and digital auctions, we are creating a network of logistics hubs that will improve our ability to serve our customers and give them the flexibility to do business where and how they prefer it.”
Founded in 2002, LAFCAA is a recognized leader in the Gulf States Region, with a stronghold in Louisiana. The LAFCAA facility sits on 34 acres, providing the efficiency and accommodations for inventory, while also delivering a digital-friendly experience for dealers looking to expand their inventory strategy. EBlock intends to integrate LAFCAA’s facility, seasoned team and strong customer base into its growing U.S. marketplace.
“Louisiana’s 1st Choice is a dealer-focused business with an experienced, forward-thinking team that is excited about the digital evolution in the automotive wholesale industry,”‘ McClenahan said. “LAFCAA’s Gulf Coast location enables EBlock to expand its digital dealer-to-dealer marketplace in the Southern United States.”
“EBlock and Louisiana’s 1st Choice share a focus on delivering excellence – whether that is for the customers we serve, the people we employ or the solutions we invest in,” said LAFCAA’s managing partner John Poteet. “We’ve always seen EBlock as a leader in empowering physical auctions to embrace digital efficiencies to meet our customers where they are and how they want to do business. We are excited to join the EBlock team and continue to build on the momentum.”
This partnership will further EBlock’s commitment to simplifying and streamlining the wholesale experience by connecting industry-leading technology with full-service physical auction locations.
EBlock is ranked as one of the fastest growing technology companies in North America, earning a spot on the Deloitte Technology Fast 500 and holding in the top 50 on the Deloitte Technology Fast 50 in Canada.
