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Lithia buys 9 stores in Calif., Ariz.

Lithia Motors Inc. has purchased nine dealerships from the Keyes Automotive Group estimated to generate $1.4 billion in annual revenue as the nation's third-largest new-vehicle retailer continues to grow.

Lithia said Tuesday that it acquired nine of Keyes' 14 stores, adding to its presence in Southern California and providing entry into the Phoenix market. The acquisition closed Nov. 2. Terms were not disclosed.

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