LAD - Lithia & Driveway expands footprint in Mississippi through acquisition of Toyota of Jackson

Lithia & Driveway (LAD) has acquired Toyota of Jackson in Jackson, Mississippi, expanding in Southeast region. "We are excited to complete our first year of the five-year plan to reach $50 billion in revenue and $50 of earnings per share well beyond expectations," said Bryan DeBoer, President and CEO. "Our growing presence in the Southeast region strategically enhances our nationwide network that is foundational to Lithia and Driveway conveniently serving customers throughout the entire vehicle ownership lifecycle." This location is expected to add $95M in annualized revenue and brings LAD's total expected annualized revenue acquired to $7.6B since the launch of its 5-year plan in July 2020.Transaction was funded using existing on-balance sheet capacity.Last week, the company has acquired the Southwest Kia Auto Group with five locations in the major metropolitan markets of Austin and Dallas, Texas, which will add $350M in annualized revenues.

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Lithia & Driveway expands footprint in Mississippi through acquisition of Toyota of Jackson