Lithia Acquires High-Volume Franchise

By Staff Writer December 02, 2020

Lithia Motors & Driveway announced it has acquired Ramsey Subaru and Mazda, the highest-volume Subaru and Mazda dealers in Iowa. This purchase further increases Lithia’s footprint in the North Central Region of the United States.

“We are delighted to add another high-performing store to serve our customers in the North Central Region,” said Bryan DeBoer, Lithia Motors and Driveway’s president and CEO. “This acquisition improves our brand mix and ability to complete in-home and in-network solutions throughout the entire vehicle ownership lifecycle.”

Lithia Motors has a coast-to-coast automotive retail network, reaching over 92 percent of the United States. The Ramsey acquisition is expected to add $100 million in revenue, bringing the company’s total network expansion to over $3.5 billion in annualized revenue thus far in 2020. Lithia Motors financed this transaction using capital recently raised in concurrent equity and debt offerings that closed in early October.

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Last modified on Wednesday, 02 December 2020 15:35