Lithia Motors Inc., fresh off its purchase of Michigan's Suburban Collection this month, has acquired a Honda dealership in New Jersey in a deal that is expected to add $230 million in annual revenue.
Lithia bought Planet Honda of Union on Sunday from Tim Ciasulli. The dealership had been in the Ciasulli family for 48 years. It has been renamed Planet Honda.
Bill Feinstein, who owned 20 percent of the dealership, is staying on as general manager and will lead the store.
"We are excited to welcome Bill Feinstein and his dedicated team to the Lithia and Driveway family," Lithia CEO Bryan DeBoer said in a statement. "Adding one of the highest performing Honda stores in the country further strengthens our ability to serve communities throughout the New York and New Jersey metropolitan areas."
Lithia rolled out Driveway, a portal that lets customers purchase or sell vehicles online and schedule at-home service, last year.
The dealership group …