Lithia Motors Inc. has acquired metro-Atlanta dealership Wade Ford, just a little over a week after adding 14 dealerships in Virginia from Priority Auto Group to its stable and continuing an aggressive acquisition strategy that targets reaching $50 billion in revenue by the end of 2025.
Lithia’s purchase of the Smyrna, Ga., dealership northwest of Atlanta is expected to add $285 million in annual revenue and continue its Southeast expansion, the dealership giant said Wednesday.
“Wade Ford has been serving the area since 1933,” Lithia CEO Bryan DeBoer said in a statement. “Their strong reputation with customers and community support allows us to expand our operations in this highly competitive market.”
The deal closed Tuesday, according to Mike Sims, president of Pinnacle Mergers & Acquisitions, a Frisco, Texas, buy-sell firm. Pinnacle Mergers & Acquisitions represented seller Steve Ewing in the sale. Wade Ford is expected to keep its name.
Lithia’s acquisition of the Ford dealership included its commercial vehicle center and large fleet business, Sims said.
