Lithia Motors Inc. has purchased four import brand John Eagle Dealerships in Dallas and Austin, Texas, that will bring in a combined $500 million in annual revenue as it continues to grow its dealership portfolio.
The nation's third-largest new-vehicle retailer said it purchased John Eagle Honda of Dallas, Honda Cars of Rockwall, Howdy Honda in Austin and Sport City Toyota in Dallas. The deal was completed over the weekend.
"We're delighted to announce our network expansion in two of the largest markets in our logistically key South-Central region," Lithia CEO Bryan DeBoer said in a statement Tuesday. "We're excited to welcome these high-performing teams to the Lithia family. Their reputation in their communities and extraordinary volume reflect a commitment to an exceptional customer experience."
Lithia, which owns domestic brand stores in Texas, did not disclose the purchase price for the dealerships but said it funded the acquisi…