FUJHF - Lithia?& Driveway?acquires Subaru of Mobile and Michael's Subaru

Lithia & Driveway (LAD) boosts its presence Northwest and Southeast regions through acquisition of Subaru of Mobile in Mobile, Alabama and Michael's Subaru in Bellevue,?Washington.The transaction is expected to generate $155M in annualized revenues, bringing LAD's total expected annualized revenue acquired?to $8B since the announcement of its 5-year Plan to achieve $50 in earnings per share and $50B in revenue by 2025.? With the purchase of Subaru of Mobile, the company crosses the border into Alabama adding a new state to the Southeast Region. The Michael's Subaru store is expected to grow to be a top 10 volume Subaru store in the coming years. Both acquisitions were financed using existing on-balance sheet capacity.

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Lithia?& Driveway?acquires Subaru of Mobile and Michael's Subaru