Lithia Motors Inc. said it acquired Downtown Los Angeles Auto Group in one of the biggest buy-sell transactions of the year.
The five-store addition will generate about $1 billion in annual revenue, the auto retailer said in a statement.
"I believe it's the biggest deal this year in terms of revenue added to a group," said buy-sell adviser Erin Kerrigan, managing director of Kerrigan Advisors in Irvine, Calif. Kerrigan advised Downtown Los Angeles on the deal.
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