Lithia & Driveway (LAD) Enters North American Powersports Market with Addition of Pfaff Harley-Davidson Dealership
Lithia & Driveway (LAD) has expanded into the North American powersports market by acquiring Pfaff Harley-Davidson in Toronto, Canada. This marks LAD's first motorcycle dealership. The deal is expected to contribute to LAD’s annualized revenue, bringing the total for 2021 to nearly $6.3 billion. The company aims to exceed its target of $50 billion in revenue and $50 earnings per share by 2025.
- Acquisition of Pfaff Harley-Davidson enhances LAD's market presence.
- Expected to contribute nearly $6.3 billion in annualized revenue in 2021.
- Positioned to exceed $50 billion in revenue and $50 EPS by 2025.
- None.
MEDFORD, Ore., Nov. 9, 2021 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) today announced their entrance into North American powersports with the acquisition of Pfaff Harley-Davidson in Toronto, Canada. The location also becomes the first motorcycle dealership within the Lithia portfolio.
"We are delighted to join the Harley-Davidson dealer family through this partnership with our team at Pfaff Automotive," said Bryan DeBoer, LAD President and CEO. "Harley-Davidson is a storied brand with a rich history, passionate owners, and a premium product lineup that is well aligned with our business model."
The addition of Pfaff Harley-Davidson brings LAD's total expected annualized revenue acquired in 2021 to nearly
About Lithia & Driveway (LAD):
LAD is a growth company powered by people and innovation with a plan to profitably consolidate the largest retail sector in North America. As the leading provider of personal transportation solutions in North America, LAD is among the fastest-growing companies in the Fortune 500 and is currently ranked #231 (#2 on 10-Year EPS Growth, #3 on 10-Year TSR and #12 on 10-year Revenue growth in 2021). By providing a wide array of products and services for the entire vehicle ownership lifecycle through various consumer channels, LAD builds magnetic brand loyalty. Operational excellence is achieved by focusing the business on convenient and transparent consumer experiences supported by proprietary data science to improve market share, consumer loyalty and profitability. LAD's omni-channel strategy will continue to pragmatically disrupt the industry by leveraging experienced teams, vast owned inventories, technology, and physical network. LAD continues to lead the industry's consolidation, and this combined with Driveway's e-commerce in-home experiences, further accelerates the massive regenerating capital engine. Together, these endeavors create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.
About Pfaff Automotive Partners
Pfaff Automotive Partners, a leading Canadian automotive retailer, was founded in 1964. Its brand offering includes Volkswagen, Audi, BMW, MINI, Porsche, McLaren, Singer Vehicle Design, Pagani, BAC Mono, Harley-Davidson, Mercedes-Benz, Subaru, and Automobili Pininfarina automobiles and motorcycles. It has a 50-plus-year racing history across many forms of motorsport. The company also operates Pfaff Tuning, Pfaff Leasing, and Pfaff Autoworks. For more information, please visit www.pfaffauto.com.
Sites
www.lithiainvestorrelations.com
www.lithia.com
www.pfaffauto.com
On social media
https://www.facebook.com/LithiaMotors
https://twitter.com/LithiaMotors
https://www.facebook.com/pfaffauto/
https://www.instagram.com/pfaffauto/
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SOURCE Lithia Motors, Inc.
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