Lithia buys more stores near Pittsburgh

Lithia Motors Inc. has bought Day Automotive Group in suburban Pittsburgh, adding to its presence in that market.Day Automotive, in Monroeville, Pa., is estimated to generate $340 million in annual revenue, Lithia said in a statement on Tuesday."This acquisition rounds out our presence in Pittsburgh, adding stores in the desirable southeastern metro area to complement our locations in affluent Cranberry Township," said Lithia CEO Bryan DeBoer in the statement. "We continue to see a robust acquisition environment and anticipate more acquisitions in the near term."Day Automotive sells Audi, Volkswagen, Chevrolet, Ford and Subaru, according to its website.This is Lithia's second acquisition in the Pittsburgh market in 10 months. The acquisition has closed. Lithia bought seven dealerships and the real estate from Day, according to a Pittsburgh Business Times article. Lithia will keep the Day brand, the report said, which has been in business since the late 1970s.Day Toyota was not part of this deal, the Times report said. It was sold to Ganley Automotive Group earlier this month. Day’s owner, Deborah Campbell, will stay on during the transition and Lithia plans to keep the store's personnel.The Business Times' reported that Day has 529 employees and $401.45 million in revenue in 2016.In May, Lithia acquired Pittsburgh's Baierl Auto Group in a deal estimated to provide Lithia with $500 million in additional annual revenue. It bought six Baierl rooftops that sell Acura, Cadillac, Chevrolet, Ford, Honda, Kia, Subaru and Toyota vehicles. Two other, smaller Baierl stores were to be spun off to their managers. Lithia did not previously have any dealerships in Pennsylvania.Combined, the Pittsburgh-area dealerships represent nearly $1 billion in annual revenue.Lithia, of Medford, Ore., ranks No. 4 on Automotive News' list of the top 150 dealership groups based in the U.S., with retail sales of 145,772 new vehicles in 2016.

Lithia buys more stores near Pittsburgh

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