Lithia Motors &Amp; Driveway (Lad) Adds $185 Million Of Revenue
PRIVATEJun 08, 2021
Amount Raised
$185 Million
Round Type
Funding Round
Medford
Description
Lithia Motors & Driveway (NYSE: LAD) announced today the acquisition of two locations in Van Nuys, California, serving the greater Los Angeles area. BMW of Sherman Oaks and Acura of Sherman Oaks are expected to generate combined annualized revenues of $185 million.
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Company Information
Company
Lad
Location
Medford, Massachusetts, United States
About
LAD has acquired nearly $7.1 billion in annualized revenues since the launch of its five-year plan to reach $50 billion in revenues and $50 in earnings per share just under a year ago. This growth has been focused primarily in the Southeast and Central regions where their network density is lightest. LAD has a robust pipeline of over $15 billion in annualized revenues in discussion and priced to meet their disciplined hurdle rates. "We are well ahead of schedule on the network development portion of our five-year plan.
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Medford