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Lithia acquires The Suburban Collection
Photo courtesy of Lithia Motors & Driveway Tuesday, Apr. 13, 2021, 01:43 PM By Auto Remarketing Staff CARY, N.C. -
In what the retailer says is one of the largest purchases ever in terms of franchise count, Lithia Motors & Driveway announced Tuesday that it has purchased The Suburban Collection.
The Troy, Mich.-headquartered Suburban Collection includes 56 franchises, with 33 brands across 34 locations. It is also Lithia s first major entry into the North Central region.
Lithia anticipates the purchase will add $2.4 billion in annualized revenues, bringing its total expected annualized revenues acquired to $6.5 billion since it announced a five-year plan nine months ago.
Lithia expands in Southwest with latest purchase autoremarketing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoremarketing.com Daily Mail and Mail on Sunday newspapers.