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Suburban Collection closes sale to national dealership chain Lithia

Suburban Collection closes sale to national dealership chain Lithia
Suburban Collection closes sale to national dealership chain Lithia
Jackie Charniga, Automotive News
Print
Lithia Motors Inc. is now the owner of Southeast Michigan s Suburban Collection and 34 of its dealerships in a deal expected to add $2.4 billion in annual revenue.
The sale, first reported in January and which closed Monday, is one of the largest-ever acquisitions for Lithia as well as one of the largest auto-retail transactions of the past decade.
Specific terms of the acquisition were not disclosed.
But Lithia CEO Bryan DeBoer, in an interview, said the price Lithia has paid for recent acquisitions has been equal to 15 percent to 25 percent of a dealership group s annual revenue, and that the Suburban deal fell in the middle of that range. That would make the value of the deal about $500 million. He said the company s net investment includes retail operations, goodwill, some inve ....

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Lithia Motors (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region

Lithia Motors (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region
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Lithia Motors & Driveway (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region

Lithia Motors & Driveway (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region
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Lithia Motors & Driveway (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region

Lithia Motors & Driveway (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.

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Suburban Collection said to be near deal to sell to large dealership group

DAVID PHILLIPS
Lithia Motors Inc. is poised to acquire Troy-based Suburban Collection, one of the nation s biggest privately owned dealership groups and the largest in metro Detroit, according to a source familiar with the matter.
The deal, giving Lithia a key foothold in the Midwest, could be announced as early as this week, according to the source.
The purchase covers nearly all of the Suburban Collections s retail automotive operations and property and is expected to close this summer, the source said.
The planned acquisition was reported earlier by cbtnews.com.
Suburban CEO David Fischer Jr. declined to comment.
Lithia CEO Bryan DeBoer on Sunday also declined to comment on the matter, adding the company doesn t disclose information about partnerships and transactions before they re finalized. But DeBoer added Lithia expects growth in 2021 to be on par or exceed 2020 s pace of acquisitions. ....

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