Lane Powell Client Lithia Motors, Inc. Acquires Don Rasmussen Co.
Lane Powell client Lithia Motors, Inc. recently acquired Rasmussen BMW MINI, Mercedes-Benz of Portland and Mercedes-Benz of Wilsonville, all located in Oregon. Don Rasmussen Co. has had a long history in the Portland market. The acquisition makes Lithia Motors a visible player in the luxury car market in the greater Portland area. Lane Powell attorney Cliff Spencer served as lead counsel to Lithia Motors, with Lane Powell attorney Jeremy Bader assisting on real estate matters. The new stores will add $176 million in estimated annual revenue to Lithia Motors. Lithia Motors is the ninth largest automotive retailer in the U.S., featuring domestic and import franchises with more than 85 stores located in 12 states.