2023-06-21 07:32:09 ET
- Personal transportation solutions provider, Lithia & Driveway, part of Lithia Motors ( NYSE: LAD ) purchases Wade Ford in Smyrna, Georgia, expanding its reach in the southeast region and adding an estimated $285M in annualized revenue.
- The purchase is projected to bring total YTD expected annualized revenue acquired to $3.5B and $17.5B since announcing its 2025 Plan to achieve $50B in revenue.
- LAD has accomplished 70% of its 2025 Plan network development target of $25B.
- The acquisition was financed using existing on-balance sheet capacity.
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Lithia & Driveway, part of Lithia Motors expands footprint in Atlanta market