LAD - Lithia Motors acquires Latham Ford adding $55M in revenue

Lithia Motors (LAD) has acquired Latham Ford, serving the Albany, NY, metropolitan area and expected to add $55M in annualized revenue, bringing company's total network expansion to over $1.75B in revenue thus far in 2020. This acquisition was funded using free cash flow and existing on-balance sheet capacity. “The growth of our physical network expands our ability to provide consumers with convenient and affordable new vehicle, used vehicle, service and parts solutions. Together, with our Driveway digital home channel, we are providing flexible and complete vehicle ownership solutions wherever, whenever and however consumers desire,” said said Bryan DeBoer, Lithia Motors President and CEO.

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Lithia Motors acquires Latham Ford, adding $55M in revenue