Lithia Motors said Thursday it has acquired a pair of Portland-area General Motors dealerships, two weeks after selling a Mercedes-Benz shop just south of Portland.
The Medford-based auto retailer bought Vic Alfonso Cadillac and Braley & Graham Buick GMC in Portland. The stores will be renamed Buick GMC of Beaverton and Cadillac of Portland Lloyd Center, and will provide an additional $60 million in estimated annual revenues.
Late last month, Lithia completed a deal to sell Mercedes-Benz of Wilsonville to Austin, Texas-based Swickard Corp., a private equity firm led by Jeff Swickard, a University of Oregon graduate.
The transactions boost Lithia's holdings in the Portland market to seven stores.
"These acquisitions make us the exclusive Cadillac dealer in Portland, increasing our existing luxury platform of BMW and Mercedes-Benz stores in the metropolitan area," Lithia President and CEO Bryan DeBoer said.
Lithia also owns Mercedes-Benz of Portland and Mercedes-Benz of Beaverton.