A Houston auto retail mainstay was sold by its founding family after nearly 70 years of ownership.

Tommie Vaughn Ford, which opened in 1957, was picked up by Texas-based Vaughan Automotive, a fast-growing automotive group. The two similar family names are unrelated.

Tommie Vaughn was named a Time Dealer of the Year in 1975, said sell-side broker Kerrigan Advisors.

Jeanie Vaughn Janke and her husband, Jim, had operated the store since her father died in 2005. The couple decided to retire, and they own no other dealerships, Kerrigan said.

“While a sale is bittersweet, we believe Vaughan Automotive was the ideal buyer and we are confident the business, including our employees and customers, will be in excellent hands after the sale,” Jim Janke said.

The buyer changed the name of the store to Mike Calvert Ford after a Vaughan group mentor. It's the group's first Ford franchise.

Ford, with its popular pickups, is the best-selling Houston-area domestic auto brand with 12% market share, according to Kerrigan.

“Ford is one of the most sought-after domestic franchises in today’s buy-sell market, driven by rising dealer trust and high sales throughput per dealership, both meaningful indicators of franchise value today,” said Kerrigan Managing Director Ryan Kerrigan.