Lithia Motors Inc. is about to take control of southeast Michigan's Suburban Collection, in a move that will mark one of the largest dealership buy-sell transactions in the past decade while cementing the Oregon group's reach in the Midwest.
Suburban Collection dealerships in Michigan are slated to close Saturday, April 10, through 1 p.m. April 12 for "necessary system updates," according to a message on the group's website.
A source told Automotive News on Friday that inventory will be assessed over the weekend and the stores will reopen Monday under Lithia ownership.
Suburban CEO David Fischer Jr. declined to comment on Friday, as did a spokeswoman for Lithia.
Lithia's planned acquisition of Michigan's Suburban Collection, one of the nation's largest privately held dealership groups, was reported by Automotive News in January.