Lithia buys Volkswagen dealer in Stockton, Calif.
Lithia Motors has tacked on another San Joaquin County dealership to its collection.
The Medford auto retailer said today it has acquired Hammer Lane Volkswagen in Stockton, Calif., and renamed it Volkswagen of Stockton. The dealership has an estimated $20 million in annual revenue.
"This marks the fourth store we've acquired in the Stockton area in the last four months," Lithia CEO Bryan DeBoer said. "We believe the proximity to our recently purchased Nissan, Kia and Toyota stores builds scale in an attractive market."
It was the second Volkswagen dealership acquired by the nation's ninth-largest auto retailer in the past year. The company operates 96 stores in 12 states.
— Greg Stiles