August 13, 2016 — Lithia Motors has acquired Kemp Ford in Thousand Oaks, CA, renaming it DCH Ford it’s fourth acquisition in 2016. The purchase should increase Lithia’s revenues by $65 million annually.
The publicly traded dealer group, based in Medford, OR, acquired Riverside Subaru in Riverside, CA in January and Ira Toyota in Milford, MA from Group 1 Automotive in February. Lithia also acquired a GMC Buick franchise in Helena, MT.
Since January 2013, Lithia has acquired 53 stores, including the four this year. Company executives told analysts in late July that acquisition activity will pick up in the second half primarily because prices are starting to become more realistic.
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