Lithia & Driveway Announces Purchase Of 13 Locations From The Priority Automotive Group In Virginia
Portfolio Pulse from Benzinga Newsdesk
Lithia & Driveway has acquired 13 locations from the Priority Automotive Group in Virginia, bringing its total year-to-date expected annualized revenue acquired to over $3.2 billion. The acquisition was financed using existing on-balance sheet capacity and is projected to generate more than $1.2 billion in annualized revenue.
June 13, 2023 | 11:11 am
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POSITIVE IMPACT
Lithia & Driveway's acquisition of 13 locations from Priority Automotive Group is expected to increase its annualized revenue by over $1.2 billion.
The acquisition of 13 locations from Priority Automotive Group directly impacts Lithia & Driveway (LAD) as it increases their annualized revenue by over $1.2 billion. This expansion in the Mid-Atlantic Region strengthens their market presence and is expected to have a positive short-term impact on their stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100