Lithia Motors Acquires Porsche Beverly Hills and Santa Monica Audi
Reuters
Nov 12
Lithia Motors Acquires Porsche <a href="https://laohu8.com/S/BHBCQ">Beverly Hills</a> and Santa Monica Audi
Lithia & Driveway $(LAD)$, the world's largest publicly traded automotive retailer, is acquiring Porsche Beverly Hills and Santa Monica Audi. The transaction, exclusively advised by MD Johnson Inc. on behalf of dealership president and CEO Geoff Emery, is expected to add nearly $450 million in annual revenues for Lithia & Driveway. The two dealerships, located on Los Angeles' affluent West Side, are recognized as leading retailers of Porsche and Audi vehicles in the United States and serve areas including Beverly Hills, Santa Monica, Bel Air, and Malibu. Emery expressed confidence in Lithia's ability to care for both customers and employees during the transition, while Lithia's CEO Bryan DeBoer highlighted the longstanding relationship between the parties involved.
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