Driving the news: Lithia Motors, Inc. acquired a luxury dealership located just miles away from its global headquarters in a February 23 deal with Lancaster County Motors.
For context: Lithia’s deal to purchase Mercedes-Benz of Medford, in Oregon, also included the real estate, according to The Presidio Group, which represented the sellers in the transaction.
This was the only dealership that Lancaster owned outside Pennsylvania, making it a strategic divestiture for the group.
And Lithia adds to its luxury holdings while strengthening its community presence in Medford.
What they’re saying: “Mercedes-Benz of Medford is a natural fit for Lithia,” Lithia CEO Bryan DeBoer said in a statement. “We have a deep connection to this community and a long-standing appreciation for the Mercedes-Benz brand, and this dealership brings those two passions together…”
Bottom line: Yet another deal in the bustling buy-sell market that highlights the importance of portfolio management. George Karolis, president of Presidio, said the group continues to see “strong interest in high-quality Mercedes-Benz stores…”
You can see this deal announcement and many more throughout the entire year, by visiting the CDG Buy/Sell tracker at CDGbuysell.com powered by:
OUTSMART THE CAR MARKET IN 5 MINUTES A WEEK
Get insights trusted by 55,000+ car dealers. Free, fast, and built for automotive leaders.
