Financial Advisor
Carousel Motor Group
M&A Advisory
Has Been Acquired By
Transaction Details
- On February 26th, the Pohlad Companies completed the sale of its Carousel Motor Group platform to Lithia Motors, Inc. (NYSE: LAD)
- The platform, headquartered in Minneapolis, MN, consists of eight franchised dealerships in Minnesota, one franchised dealership in Wisconsin, and is projected to generate more than $900mm of Revenue.
- In Minnesota, Lithia has bought Audi Minneapolis, Audi St. Paul, BMW of Minnetonka, Coon Rapids CDJR, North Branch Chevrolet, Porsche Minneapolis, Porsche St. Paul, and Twin Cities Performance (Ferrari). In Wisconsin, Lithia has bought Hudson Ford.
- Taft Stettinius & Hollister LLP served as legal counsel to the Pohlad Companies.
About the company
Lithia Motors, Inc. (NYSE: LAD)
Lithia is one of the largest automotive group retailers in the United States and is among the fastest growing companies in the Fortune 500 with 482 stores globally. Lithia offers 47 brands of new vehicles and all brands of used cars in their stores and online.
Pohlad Companies
Family owned and controlled for over 70 years, the Pohlad Companies include holdings in commercial real estate development and investment services through United Properties and Northmarq; sports and entertainment such as the Minnesota Twins Major League Baseball Club and River Road Entertainment; industrial automation systems provided by PAR; and forward-thinking capital managed by Pohlad Investment Management. Since 1994, the Pohlad Family Foundation has distributed more than $238 million to nonprofit organizations.
Sources: Company Materials.
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