Lithia Motors Inc. has bought metro-Atlanta dealership Wade Ford, only a tiny over a day next including 14 dealerships in Virginia from Precedence Auto Workforce to its solid and proceeding an competitive acquisition technique that objectives achieving $50 billion in income through the top of 2025.
Lithia’s acquire of the Smyrna, Ga., dealership northwest of Atlanta is predicted so as to add $285 million in annual income and proceed its Southeast growth, the dealership immense stated Wednesday.
“Wade Ford has been serving the area since 1933,” Lithia CEO Bryan DeBoer stated in a remark. “Their strong reputation with customers and community support allows us to expand our operations in this highly competitive market.”
The offer closed Tuesday, consistent with Mike Sims, president of Pinnacle Mergers & Acquisitions, a Frisco, Texas, buy-sell company. Pinnacle Mergers & Acquisitions represented vendor Steve Ewing within the sale. Wade Ford is predicted to store its title.
Lithia’s acquisition of the Ford dealership integrated its industrial automobile middle and massive fleet trade, Sims stated.
