US dealer group Lithia completes Pendragon takeover

US dealer group Lithia has completed its purchase of Pendragon, parent company of the Evans Halshaw and Stratstone brands.

This caps a 12-month period in which North American firms have taken over some of the UK’s biggest dealer groups.

Its successful bid of £397 million saw off the challenge of a joint bid from US rival Penske and Sweden’s Hedin Group. 

Lithia already had a foothold in the UK, thanks to the completion of its takeover of Jardine Motors Group in March last year with a successful bid reportedly totalling £300m.

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