Lithia & Driveway Forges Strategic Partnership Pinewood Technologies Following Pendragon Division's Acquisition
Portfolio Pulse from Benzinga Newsdesk
Lithia & Driveway (LAD) has completed the acquisition of the UK motor and fleet management divisions of Pendragon PLC, which will be renamed Pinewood Technologies Group PLC. This move also establishes a strategic partnership with Pinewood Technologies.
February 01, 2024 | 8:27 am
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Lithia & Driveway has acquired Pendragon's UK motor and fleet management divisions and formed a strategic partnership with Pinewood Technologies, potentially expanding its market presence in the UK.
The acquisition of Pendragon's UK divisions by LAD is likely to be seen as a positive move for growth and expansion into new markets, which could increase investor confidence and potentially lead to a short-term rise in LAD's stock price.
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