LAD - Lithia & Driveway's enters Kentucky with new store purchase

Lithia & Driveway ( NYSE: LAD ) announced on Tuesday it has purchased its first location in Kentucky to expand its retail footprint and presence in what it says is one of the strongest retail regions in the country.

"With the addition of Glenn's Freedom CDJR, we continue to build out our physical network and expand consumer optionality within our omni-channel strategy," said Lithia CEO Bryan DeBoer.

The company said the new store is projected to generate more than $140M in annualized revenue.

Lithia ( LAD ) has already acquired 33 stores in 2022 that are expected to contribute annualized revenue of $3.5B. Looking ahead, acquisitions are expected to continue to be a key part of the company's 2025 Plan to reach $50B in revenue and $55 to $60 in EPS.

See all the growth metrics on LAD.

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