Lithia Motors announced Monday it acquired a trio of franchise dealerships located near Portland, Ore.

Executives indicated Lithia’s newest stores include Rasmussen BMW Mini, Mercedes-Benz of Portland and Mercedes-Benz of Wilsonville. They calculated the stores will add $176 million in estimated annual revenues.

“The Rasmussen group has a strong history in the Portland market,” stated Bryan DeBoer, Lithia’s president and chief operating officer.

“We intend to continue their success and welcome their employees to the Lithia team,” DeBoer continued. “We remain focused on seeking exclusive franchises in the markets we serve. Adding luxury brands like Mercedes-Benz, BMW and Mini in a metropolitan market like Portland is a core Lithia strategy."

Greg Rasmussen, president of Don Rasmussen Co., added, “I am pleased that Lithia, an Oregon-based corporation, is purchasing these stores. Continuity to our customers and employees is of critical importance to both of our organizations. Lithia will carry on the proud tradition and heritage of these stores.”