Lithia Motors (LAD) Acquires California-Located Kemp Ford

August 11, 2016 2:46 PM EDT

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Lithia Motors, Inc. (NYSE: LAD) has acquired Kemp Ford in Thousand Oaks, California. The store will be renamed DCH Ford of Thousand Oaks and will add $65 million in estimated annual revenues.

Bryan DeBoer, President and Chief Executive Officer, commented, "We are pleased to welcome DCH Ford of Thousand Oaks to our team. This store marks the third acquisition for our DCH platform this year and complements our existing operations in Southern California. We are excited to expand our relationship with Ford and further diversify our brand mix. We remain focused on continued acquisition growth within both rural and metropolitan markets in the future."

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