Publicly-listed Lithia Motors Inc. has acquired privately-owned Downtown LA Auto Group in Los Angeles, Calif. from the Shammas family for an undisclosed amount. The family chose to retain Felix Chevrolet, Nickolas Shammas’ first dealership. The acquisition included Mercedes-Benz, Porsche, Audi, Toyota, Volkswagen franchises as well as two Nissan franchises. The new unit sales volume of the dealerships acquired is over $850 million annually.
Kerrigan Advisors represented Downtown LA Auto Group in the transaction and provided this information.
