Lithia Motors Buys 13 Locations, Adding Annualized Revenue Of $1.2B
Portfolio Pulse from Lekha Gupta
Lithia Motors Inc (NYSE:LAD) has acquired 13 locations from Priority Automotive Group in Virginia, expanding its footprint in the Mid-Atlantic Region. The acquired stores are expected to generate annualized revenue of over $1.2 billion. Lithia Motors financed the acquisition using existing on-balance sheet capacity.
June 13, 2023 | 1:22 pm
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Lithia Motors (LAD) acquires 13 locations from Priority Automotive Group, expanding its footprint in the Mid-Atlantic Region and adding $1.2B in annualized revenue.
The acquisition of 13 locations from Priority Automotive Group will expand Lithia Motors' footprint in the Mid-Atlantic Region and add significant annualized revenue of over $1.2 billion. This expansion is likely to have a positive impact on LAD's stock price in the short term as it demonstrates growth and increased market presence.
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