“The buy-sell market is especially strong right now and we knew that joining efforts with a larger group was the best way to ensure that our dealerships will continue to be market leaders in today’s fast-changing auto retail environment,” Scott Fink, president of Fink Automotive, said in a statement. “Lithia has the resources to elevate our dealerships to the next level of sophistication.”
Fink is retaining a Volkswagen store in Wesley Chapel. He will also work in a role with Lithia to help the retailer as it continues to expand in the Southeast, Lithia confirmed.
“The addition of Fink Automotive Group gives us a greatly expanded foothold in the key Southeast region,” Lithia CEO Bryan DeBoer said in the statement.
With the store purchases from Fink, Lithia said it has closed on dealership acquisitions that are expected to generate $4 billion in revenue. The retailer said it reached its annual goal for revenue generated via acquisitions four months ahead of its schedule. The company said acquisitions will be a key part of its five-year plan to hit $50 billion in revenue.
