Lithia & Driveway Acquires Carousel Motor Group
February 27, 2024
Lithia & Driveway (LAD) has purchased Carousel Motor Group, a nine-store dealer group operating premium luxury and domestic franchises in the Minneapolis–St. Paul region, adding an expected $900 million in annualized revenue. The acquisition expands Lithia's footprint in the North Central Region (including its first Ford store in Wisconsin) and was financed using existing on‑balance sheet capacity; the seller is Pohlad Companies (the Pohlad family).
- Buyers
- Lithia & Driveway (Lithia Motors, Inc.)
- Targets
- Carousel Motor Group
- Sellers
- Pohlad Companies
- Industry
- Automotive
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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