Arlington’s Graham Holdings Co. has purchased a 90% stake in another two auto dealerships, adding to its diversified business holdings.
The newly acquired Toyota and Chrysler-Dodge-Jeep-Ram dealerships in Woodbridge were purchased from Lustine Automotive Group. They join Graham Holdings’ growing automotive segment that includes dealerships in Rockville, Tysons, Bethesda and Manassas.
Terms of the deal were not disclosed, and the company declined to comment further on the purchase.
With six dealerships now in its portfolio — all of which are local and operated by the Ourisman Automotive Group — Graham Holdings (NYSE: GHC) appears to be driving its heels into the industry.
The latest acquisitions come just six months after the company purchased the dealership in Manassas, which is now operated as Ourisman Ford of Manassas. Together, Ourisman and Graham Holdings also have a joint venture through which they began a valet car maintenance and repair startup called CarCare to Go —…Read the full story from the Washington Business Journal.