LAD - Lithia & Driveway acquires Jardine Motors for U.K. expansion

2023-03-16 05:17:44 ET

• Lithia & Driveway ( NYSE: LAD ) expanded into U.K. through the acquisition of Jardine Motors, a successful automotive retailer in the U.K., operating 50+ premium luxury retail locations and is expected to generate $2B+ in annualized revenues.
• Acquisition was financed using existing on-balance sheet capacity.
• Jardine Motors represents most renowned luxury car brands including Audi, Aston Martin, BMW, Mini, Jaguar Land Rover, McLaren, Mercedes-Benz, Porsche, and Ferrari.
• This addition brings LAD's 2023 annualized revenue to $2.1B+.
• Acquisitions continue to be a core component of the company's 2025 Plan to reach $50B in revenue.

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