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By Greg Stiles February 02. 2016 8:36AM Lithia Motors buys its first Massachusetts dealership Lithia Motors said today it has acquired Ira Toyota/Scion of Milford, Mass., a community centered between three of New England's largest cities, Boston, Worcester, Mass., and Providence, R.I. The store will be renamed DCH Toyota/Scion of Milford and will add $65 million in estimated annual revenue to the $7 billion-plus company. Last week, the Medford auto retailer announced acquisition of Riverside Subaru in Southern California, renaming it DCH Subaru of Riverside. The company anticipated that dealership would add annual revenue of $45 million. Bryan DeBoer, Lithia president and CEO, said the Massachusetts purchase is the first along the eastern seaboard for the company. "DCH Toyota/Scion of Milford is our first store in the state of Massachusetts and provides a platform for expansion into the greater Boston metropolitan area," DeBoer said in a statement. "We remain focused on continued acquisition growth within both rural and metropolitan markets in the future." DeBoer said Lithia has its eyes on 1,400 metropolitan stores in addition to more than 1,200 possible targets within its present markets. "We look forward to continued acquisition growth in the future," he said. Lithia now operates 138 auto stores in 15 states. http://www.mailtribune.com/article/20160202/NEWS/160209941 © 2016 Copyright © 1995-2011 Crain Communications Inc. All Rights Reserved. Terms of Use Privacy Statement -->