The Medford, Ore. publicly traded car dealer acquired BMW of Sherman Oaks and Acura of Sherman Oaks for an undisclosed price.
“We are excited to add our first BMW store in Southern California and capture the significant potential that exists,” DeBoer said in a statement.
The BMW and Acura stores are expected to generate combined annualized revenues of $185 million, the company said in a release.
Included in the transaction were Keyes Toyota, Keyes European (Mercedes-Benz), Keyes Lexus, Keyes Audi and Keyes Hyundai, all in Van Nuys, as well as Lexus of Valencia, Audi Valencia, Mission Hills Hyundai and Bell Road Toyota, located in Phoenix. The dealerships did not change names.
In the greater Valley region, Lithia also owns Audi Calabasas and DCH Subaru and DCH Ford, both in Thousand Oaks.