LITHIA & DRIVEWAY EXPANDS RETAIL NETWORK IN FLORIDA MARKET
Lithia & Driveway (NYSE: LAD) has expanded its presence in the U.S. Southeast Region by acquiring three stores from Duval Motor Company in Jacksonville and Gainesville, Florida. The newly acquired Acura, Honda, and Subaru dealerships are expected to generate over $200 million in annualized revenue. This marks LAD's entry into these markets, strengthening its import and luxury store footprint in Florida.
The acquisition aligns with LAD's growth strategy and commitment to providing exceptional retail experiences. With this addition, LAD's total year-to-date expected annualized revenue acquired reaches $5.9 billion. The acquisitions were financed using existing on-balance sheet capacity.
Lithia & Driveway (NYSE: LAD) ha ampliato la propria presenza nella regione del sud-est degli Stati Uniti acquisendo tre concessionarie dalla Duval Motor Company a Jacksonville e Gainesville, in Florida. Le nuove concessionarie Acura, Honda e Subaru si prevede genereranno oltre 200 milioni di dollari di fatturato annualizzato. Questo segna l'ingresso di LAD in questi mercati, rafforzando la sua presenza nel settore delle importazioni e delle auto di lusso in Florida.
L'acquisizione è in linea con la strategia di crescita di LAD e il suo impegno a fornire esperienze di vendita al dettaglio eccezionali. Con questa aggiunta, il fatturato annualizzato totale previsto acquisito da LAD fino ad oggi raggiunge i 5,9 miliardi di dollari. Le acquisizioni sono state finanziate utilizzando la capacità esistente di bilancio.
Lithia & Driveway (NYSE: LAD) ha ampliado su presencia en la región sureste de EE.UU. al adquirir tres concesionarios de Duval Motor Company en Jacksonville y Gainesville, Florida. Se espera que los nuevos concesionarios de Acura, Honda y Subaru generen más de 200 millones de dólares en ingresos anualizados. Esto marca la entrada de LAD en estos mercados, fortaleciendo su presencia en el sector de importación y de concesionarios de lujo en Florida.
La adquisición es coherente con la estrategia de crecimiento de LAD y su compromiso de ofrecer experiencias de compra excepcionales. Con esta adición, el ingreso anualizado total esperado adquirido por LAD hasta la fecha alcanza los 5,9 mil millones de dólares. Las adquisiciones se financiaron utilizando la capacidad existente en el balance.
Lithia & Driveway (NYSE: LAD)는 플로리다 주 잭슨빌과 게인즈빌에 있는 Duval Motor Company에서 3개의 매장을 인수하여 미국 남동부 지역에서의 입지를 확장했습니다. 새로 인수한 Acura, Honda 및 Subaru 대리점은 연간 2억 달러 이상의 수익을 창출할 것으로 예상됩니다. 이는 LAD가 이 시장에 진입함에 따라 플로리다에서 수입차 및 럭셔리 차량의 입지를 강화하는 것을 의미합니다.
이번 인수는 LAD의 성장 전략 및 탁월한 소매 경험을 제공하려는 의지와 일치합니다. 이번 추가로 인해 LAD의 현재까지 예상되는 총 연간 수익이 59억 달러에 달합니다. 인수는 기존의 재무 여력을 활용하여 자금을 조달했습니다.
Lithia & Driveway (NYSE: LAD) a élargi sa présence dans la région sud-est des États-Unis en acquérant trois concessions auprès de Duval Motor Company à Jacksonville et Gainesville, en Floride. Les nouvelles concessions Acura, Honda et Subaru devraient générer plus de 200 millions de dollars de revenus annualisés. Cela marque l'entrée de LAD sur ces marchés, renforçant son empreinte dans le secteur des importations et des voitures de luxe en Floride.
Cette acquisition s'inscrit dans la stratégie de croissance de LAD et son engagement à offrir des expériences de vente au détail exceptionnelles. Avec cet ajout, le chiffre d'affaires annualisé total prévu acquis par LAD atteint 5,9 milliards de dollars. Les acquisitions ont été financées utilisant la capacité existante sur le bilan.
Lithia & Driveway (NYSE: LAD) hat seine Präsenz in der südöstlichen Region der USA durch den Erwerb von drei Filialen der Duval Motor Company in Jacksonville und Gainesville, Florida, ausgeweitet. Die neu erworbenen Acura-, Honda- und Subaru-Händler sollen über 200 Millionen Dollar an annualisierten Einnahmen generieren. Dies markiert den Eintritt von LAD in diese Märkte und stärkt seine Präsenz im Import- und Luxussegment in Florida.
Die Akquisition steht im Einklang mit der Wachstumsstrategie von LAD und dem Engagement, außergewöhnliche Einzelhandelserlebnisse zu bieten. Mit dieser Ergänzung erreicht der von LAD bis heute erwartete Gesamtumsatz von 5,9 Milliarden Dollar an erworbenem annualisiertem Umsatz. Die Akquisitionen wurden mit bestehenden Bilanzkapazitäten finanziert.
- Expansion into new Florida markets with high-performing dealerships
- Expected $200 million in annualized revenue from newly acquired stores
- Strengthening of import and luxury store footprint in Florida
- Total year-to-date expected annualized revenue acquired reaches $5.9 billion
- None.
The acquisition of three Duval Motor Company stores by Lithia & Driveway (LAD) is a strategic move with significant financial implications. The projected
This expansion into new Florida markets could drive synergies and economies of scale, potentially boosting LAD's profitability in the region. The focus on high-performing import and luxury brands (Acura, Honda, Subaru) aligns with consumer preferences in affluent markets, which could lead to higher margins. However, investors should monitor integration costs and the impact on LAD's balance sheet, given the company's aggressive acquisition strategy.
LAD's expansion in Florida's Jacksonville and Gainesville markets is a calculated move to capture market share in the growing Southeast region. The automotive retail landscape in Florida is competitive, but entering with established, high-performing dealerships gives LAD an immediate strong foothold.
The acquisition aligns with broader industry trends of consolidation and digitalization in auto retail. LAD's strategy of combining physical dealerships with its Driveway digital platform could provide a competitive edge. However, the success of this expansion will depend on:
- Local market dynamics and consumer preferences
- Integration of Duval's customer base with LAD's systems
- Ability to maintain Duval's reputation while implementing LAD's operational strategies
These high-performing
"We are excited to grow our footprint and enter new
These acquisitions bring LAD's total year-to-date expected annualized revenue acquired to
About Lithia & Driveway (LAD)
Lithia & Driveway (NYSE: LAD) is one of the largest global automotive retailers providing a wide array of products and services throughout the vehicle ownership lifecycle. Simple, convenient, and transparent experiences are offered through our comprehensive network of physical locations, e-commerce platforms, captive finance solutions and other synergistic adjacencies. We deliver consistent, profitable growth in a massive and unconsolidated industry. Our highly diversified and competitively differentiated design provides us the flexibility and scale to pursue our vision to modernize personal transportation solutions wherever, whenever and however consumers desire.
Sites
www.lithia.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com
Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on Twitter
https://twitter.com/lithiamotors
https://twitter.com/DrivewayHQ
https://twitter.com/GreenCarsHQ
View original content to download multimedia:https://www.prnewswire.com/news-releases/lithia--driveway-expands-retail-network-in-florida-market-302242980.html
SOURCE Lithia Motors, Inc.
FAQ
What stores did Lithia & Driveway (LAD) acquire in Florida?
How much annualized revenue is expected from LAD's new Florida acquisitions?
What is LAD's total year-to-date expected annualized revenue acquired as of September 10, 2024?
How did Lithia & Driveway (LAD) finance the acquisition of the Florida dealerships?
