MEDFORD, Ore.--(BUSINESS WIRE)--Lithia Motors, Inc. (NYSE: LAD) has acquired Day Automotive Group in Monroeville, Pennsylvania, a suburb of Pittsburgh. The Day group is estimated to generate $340 million in steady state annual revenue.
“We are excited to add the Day team and their strong franchise mix to our operations in Pennsylvania,” said Bryan DeBoer, President and Chief Executive Officer. “This acquisition rounds out our presence in Pittsburgh, adding stores in the desirable southeastern metro area to complement our locations in affluent Cranberry Township. We continue to see a robust acquisition environment and anticipate more acquisitions in the near term.”
Day joins Baierl as the second acquisition in ten months in the Pittsburgh metro area and creates a combined platform with nearly $1 billion in annual revenue. We seek strong franchised stores in dominant market areas that have yet to realize their potential. We continue to expand our omnichannel retail strategy to innovate and serve customers throughout the United States.
Lithia Motors, Inc. is one of the largest automotive retailers in the United States and is among the fastest-growing companies in the Fortune 500 (#318-2017) with 179 stores representing 30 brands in 18 states. We offer vehicles online and through our nationwide retail network. Our “Growth Powered by People” strategy drives us to innovate and continuously improve the customer experience.
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