Lithia & Driveway (LAD) Continues Canadian Expansion with the Addition of Sisley Honda

Rhea-AI Summary

Lithia & Driveway (NYSE: LAD) has expanded its Canadian portfolio by acquiring Sisley Honda, a top Honda dealership in Thornhill, Ontario. This acquisition enhances LAD's presence in Canada and contributes over $1.2 billion to expected annualized revenue for 2022. LAD aims to surpass its 2025 revenue target of $50 billion and achieve an EPS of more than $5.55. The acquisition was financed through existing balance sheet resources, reinforcing LAD's strategy of profitable consolidation in North America's retail sector.

Positive

• Acquisition of Sisley Honda increases LAD's Canadian market presence.
• Expected annualized revenue from acquisitions in 2022 exceeds $1.2 billion.
• LAD is on track to surpass $50 billion in revenue by 2025.

Negative

• None.

MEDFORD, Ore., May 3, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) and Pfaff Automotive Partners today announced the first addition to their Canadian portfolio, Sisley Honda, based in Thornhill, Ontario. The addition of Sisley Honda, one of the highest-volume Honda dealerships in Canada, increases LAD's Canadian footprint with a strong, mainstream import brand.

"We are excited to welcome the Sisley Honda team to our Lithia & Driveway family," said Bryan DeBoer, Lithia & Driveway's President and CEO. "With this addition we are able to expand our omni-channel network in Canada, strengthening our position in one of the top Canadian markets."

Like LAD and Pfaff, Sisley is a multi-generational family business; it was founded in 1946 and has represented the Honda brand for 45 years. Sisley is also a green leader, recognized by Honda Canada in 2021 for having cut energy consumption by 30%.

The addition of Sisley Honda brings LAD's total expected annualized revenue acquired in 2022 to over $1.2 billion. The company is pacing to exceed its 2025 plan to reach $50 billion in revenue and more than $55 in EPS. This acquisition was financed using existing on-balance sheet capacity. 

About Lithia & Driveway (LAD):
LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire.

Sites
www.lithia.com
www.pfaffauto.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-lad-continues-canadian-expansion-with-the-addition-of-sisley-honda-301538233.html

SOURCE Lithia Motors, Inc.

FAQ

What is the significance of Lithia & Driveway's acquisition of Sisley Honda?

The acquisition enhances Lithia & Driveway's presence in Canada and contributes over $1.2 billion to expected annualized revenue.

How much revenue does Lithia & Driveway expect from its acquisitions in 2022?

Lithia & Driveway expects over $1.2 billion in annualized revenue from its acquisitions in 2022.

What are Lithia & Driveway's revenue goals for 2025?

Lithia & Driveway aims to exceed $50 billion in revenue and achieve more than $5.55 in EPS by 2025.

Where is Sisley Honda located?

Sisley Honda is located in Thornhill, Ontario, Canada.

Who did Lithia & Driveway partner with for the acquisition of Sisley Honda?

Lithia & Driveway partnered with Pfaff Automotive Partners for the acquisition of Sisley Honda.