Lithia & Driveway (LAD) Continues Canadian Expansion with the Addition of Sisley Honda
MEDFORD, Ore., May 3, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) and Pfaff Automotive Partners today announced the first addition to their Canadian portfolio, Sisley Honda, based in Thornhill, Ontario. The addition of Sisley Honda, one of the highest-volume Honda dealerships in Canada, increases LAD's Canadian footprint with a strong, mainstream import brand.
"We are excited to welcome the Sisley Honda team to our Lithia & Driveway family," said Bryan DeBoer, Lithia & Driveway's President and CEO. "With this addition we are able to expand our omni-channel network in Canada, strengthening our position in one of the top Canadian markets."
Like LAD and Pfaff, Sisley is a multi-generational family business; it was founded in 1946 and has represented the Honda brand for 45 years. Sisley is also a green leader, recognized by Honda Canada in 2021 for having cut energy consumption by 30%.
The addition of Sisley Honda brings LAD's total expected annualized revenue acquired in 2022 to over $1.2 billion. The company is pacing to exceed its 2025 plan to reach $50 billion in revenue and more than $55 in EPS. This acquisition was financed using existing on-balance sheet capacity.
About Lithia & Driveway (LAD):
LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire.
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SOURCE Lithia Motors, Inc.