MEDFORD, Ore. (WAVY) – Lithia & Driveway announced Tuesday that they have purchased 13 Priority Automotive locations in Hampton Roads.
According to a press release, this purchase will expand Lithia & Driveway’s footprint, with these locations projected to bring in more than $1.2 billion in annualized revenue.
Priority Automotive consists of three Honda stores, two Chevrolet stores, a Ford store, a Hyundai store, and a few smaller store in Hampton Roads.
“All of us at Priority are pleased and excited to join forces with Lithia & Driveway. We knew we had found the perfect partner to continue to grow Priority in an ever-changing retail automotive environment,” said Dennis Ellmer, Priority President and CEO. “Our cultures aligned well with a focus on customer service, growth opportunities for our associates and commitment to the communities. We look forward to continued growth with Lithia for years to come.”
This purchase will bring Lithia & Driveway’s total annual revenue to $3.2 billion.
According to its website, LIthia Motors, Inc. is “a growth company powered by people and innovation” that purchases and helps build strong businesses “that have yet to realize their potential.”