Jack Thompson, whose business holdings include auto dealerships and the Black Bass Hotel and Lumberville General Store in Solebury Township, Bucks County, is the new owner of the Golden Pheasant Inn, 15 minutes north on River Road in Tinicum Township.

Thompson joined what Doug Clemens of Traiman Auction Co. described as spirited bidding on July 22 for the historic property, which sold for $1.25 million. Asking price had been $2.9 million, including the building, 7 acres of land between the Delaware River and Delaware Canal, and the liquor license. Clemens declined to specify the reserve price.

A representative of Thompson declined to elaborate on his plans before the settlement.

The sale ends nearly 35 years of ownership by the Faure family, including chef Michel Faure, his wife, Barbara, and their five daughters, who operated it as a French restaurant. The couple retired in 2011, and Barbara Faure died unexpectedly last year. Seeking to spend more time with their families, the sisters decided to sell the property. Its last day of business was June 2.

Oldest daughter Briar Faure Mewbourne emphasized that no financial difficulties had prompted the sale. In 2012, the sisters renovated the one-time mule-barge stop, which was built in 1857 and is included on the National Registry of Historic Places.