Lithia & Driveway (LAD) Acquires Toyota of Jackson; Expands Network into Mississippi |
Release: 6/22/2021 7:15:00 AM |
MEDFORD, Ore., June 22, 2021 -- Lithia & Driveway (NYSE: LAD) today announced it has acquired Toyota of Jackson in Jackson, Mississippi. This location adds to LAD's growing Southeast region and is the first in the state of Mississippi. "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 $95 million in annualized revenue and brings LAD's total expected annualized revenue acquired to $7.6 billion since the launch of its 5-year plan in July 2020. "We welcome one of the strongest new vehicle businesses in Mississippi and the team to the LAD family," said DeBoer. This transaction was financed using existing on-balance sheet capacity. About Lithia & Driveway (LAD) Sites: Lithia Motors on Facebook Lithia Motors on Twitter
View original content to download multimedia:https://www.prnewswire.com/news-releases/lithia--driveway-lad-acquires-toyota-of-jackson-expands-network-into-mississippi-301317043.html SOURCE Lithia Motors, Inc. |