LAD - Lithia Motors Speeds Into The UK: The $350M Deal That's Poised To Make Billions! | Benzinga
Lithia Motors Inc (NYSE: LAD) said it intends to enter a strategic partnership with Pinewood Technologies and acquire the U.K. motor and fleet management divisions of Pendragon plc.
The cash consideration for the strategic partnership with Pinewood Technologies and acquisition of the U.K. motor and fleet management divisions of Pendragon is approximately $350 million.
The company expects the acquisition to round out its presence in the U.K. market and generate over $4.5 billion in annual revenues.
As part of the agreement, the ongoing Pendragon business, comprising the Pinewood DMS platform, will remain ...