MEDFORD,
Ore., Jan. 28, 2025 /PRNewswire/ -- Lithia &
Driveway (NYSE: LAD) announced today the acquisition of Stohlman
Subaru in Sterling, Virginia growing its presence in the
strong performing Mid-Atlantic Region.
"We are thrilled to welcome the talented Stohlman
Subaru team to the Lithia & Driveway family. This acquisition
strengthens our presence in the dynamic Mid-Atlantic market and
reflects our continued focus on creating seamless experiences
across our omnichannel platform. We look forward to creating
customer loyalty and continuing to unlock the potential of the LAD
platform alongside the Stohlman team," said Bryan DeBoer,
Lithia & Driveway President and CEO."
This acquisition adds expected annualized revenue
of $80 million and was financed using
existing on-balance sheet capacity.
Update on Capital Allocation
Since the end of the third quarter, LAD has also
deployed $107 million to repurchase
shares at an average price of $372.
Under the current share repurchase authorization, approximately
$454 million remains available.
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.
Convenient and hassle-free experiences are offered through our
comprehensive network of physical locations, ecommerce platforms,
captive finance solutions and other synergistic adjacencies. We
deliver consistent, low-risk, and 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 X
https://x.com/lithiamotors
https://x.com/DrivewayHQ
https://x.com/GreenCarsHQ
Lithia & Driveway on LinkedIn
https://www.linkedin.com/company/lithia-motors/
Lithia & Driveway on YouTube
https://www.youtube.com/@Lithia_Motors/featured
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SOURCE Lithia Motors, Inc.
