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Moody’s Collision Centers buys racetrack in Gorham

October 23, 2016 GMT

GORHAM, Maine (AP) — The founder of Moody’s Collision Centers says the company’s purchase of a racetrack is part of an effort to diversify the company’s holdings.

Shawn Moody said he intends to unveil his plans for a 62-acre former racetrack in coming weeks after he cleans up the property.

The company paid $1.2 million to buy the property from Hannaford supermarkets. There’s a Moody’s Collision near the track.

Moody started his network of collision repair centers while he was a senior at Gorham High School. Local official say they’re happy that the property, known locally as The Fairgrounds, is being redeveloped after three years on the market.