LAD - Lithia Motors bags nine dealership marking highest volume auto dealerships in the US

Lithia Motors ([[LAD]] +0.9%) acquires nine Keyes Automotive Group dealerships in one of the industry’s largest transactions.The sale encompassed some of the highest volume auto dealerships in the US.The transaction includes Keyes Toyota, Keyes European (Mercedes-Benz and Sprinter), Keyes Lexus, Keyes Audi, and Keyes Hyundai in Van Nuys, CA, Mission Hills Hyundai in Mission Hills, CA, Lexus of Valencia and Audi Valencia in Valencia, CA, and Bell Road Toyota in Phoenix, AZ.“Keyes has served the Los Angeles area for over 60 years as an award-winning auto retailer and sought-after employer. Howard Keyes and Howard Tenenbaum instructed our firm to identify a buyer with the scale and standards to continue Keyes’ reputation for stellar customer service and a strong, supportive employee culture. In Lithia, we found the perfect buyer to carry on this legacy.” said Erin Kerrigan, Founder and Managing Director of Kerrigan Advisors.

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Lithia Motors bags nine dealership, marking highest volume auto dealerships in the US