Lithia Motors obviously likes turning metal in the Steel City.
On Tuesday, Lithia announced it has acquired Day Automotive Group in Monroeville, Pa., a suburb of Pittsburgh. The Day group is estimated to generate $340 million in steady annual revenue.
Day joins Baierl Auto Group as the second acquisition in 10 months in the Pittsburgh metro area and creates a combined platform with nearly $1 billion in annual revenue.
“We are excited to add the Day team and their strong franchise mix to our operations in Pennsylvania,” Lithia president and chief executive officer Bryan DeBoer said in a news release.
“This acquisition rounds out our presence in Pittsburgh, adding stores in the desirable southeastern metro area to complement our locations in affluent Cranberry Township,” DeBoer continued. “We continue to see a robust acquisition environment and anticipate more acquisitions in the near term.”
Day’s brands include Audi, Chevrolet, Ford, Subaru and Volkswagen. The Baierl acquisition included Acura, Cadillac, Chevrolet, Ford, Honda, Kia, Subaru and Toyota franchises.
“We seek strong franchised stores in dominant market areas that have yet to realize their potential. We continue to expand our omni-channel retail strategy to innovate and serve customers throughout the United States,” Lithia said.