{"id":390700,"date":"2020-12-01T09:03:29","date_gmt":"2020-12-01T14:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=390700"},"modified":"2020-12-01T09:03:29","modified_gmt":"2020-12-01T14:03:29","slug":"lad-acquires-100-million-in-revenue-expanding-presence-in-north-central-region","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lad-acquires-100-million-in-revenue-expanding-presence-in-north-central-region\/","title":{"rendered":"LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region"},"content":{"rendered":"

<\/p>\n

LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region<\/b><\/p>\n

MEDFORD, Ore.–(BUSINESS WIRE<\/a>)–
\nLithia Motors & Driveway (NYSE: LAD) today announced it has acquired Ramsey Subaru and Mazda, the highest-volume Subaru and Mazda dealers in Iowa. This purchase further increases Lithia\u2019s footprint in the North Central Region of the United States.\n<\/p>\n

\n\u201cWe are delighted to add another high-performing store to serve our customers in the North Central Region,\u201d said Bryan DeBoer, Lithia Motors and Driveway\u2019s President and CEO. \u201cThis acquisition improves our brand mix and ability to complete in-home and in-network solutions throughout their entire vehicle ownership lifecycle.\u201d\n<\/p>\n

\nLithia Motors has the broadest coast-to-coast automotive retail network in the nation, reaching over 92% of the United States. The Ramsey acquisition is expected to add $100 million in revenue, bringing the company\u2019s total network expansion to over $3.5 billion in annualized revenue thus far in 2020. Lithia Motors financed this transaction using capital recently raised in concurrent equity and debt offerings that closed in early October.\n<\/p>\n

\nIn addition to expanding Lithia\u2019s network, Ramsey Subaru & Mazda also strengthens its corporate responsibility initiatives\u2014particularly in community enrichment. The dealership recently received the 2020 Subaru Love Promise Community Commitment Award. This award nationally recognizes Subaru retailers who are making the world a better place by supporting causes in local communities. These efforts focus on important areas, such as the environment, health, education, and pets. \u201cWe are extremely excited to have a team with this much passion for their communities join the Lithia family,\u201d said DeBoer.\n<\/p>\n

About Lithia Motors:<\/b><\/p>\n

\nLithia Motors, Inc. is a growth company powered by people and innovation with a 5-year plan to profitably consolidate the largest retail sector in the country. They are a leading provider of personal transportation solutions in the United States and are among the fastest-growing companies in the Fortune 500 (#6 on 10-Year EPS Growth, #4 10-Year TSR in 2020). By providing a wide array of products throughout the entire lifecycle of the consumer\u2019s vehicle ownership experience, they build magnetic brand loyalty. Operational excellence is achieved by focusing the business on convenient and transparent consumer experiences supported by proprietary data science to increase market share, consumer loyalty and team performance. Lithia’s omni-channel strategy will continue to pragmatically disrupt the industry by leveraging experienced teams, vast owned inventories, technology, and physical network. By purchasing strong businesses, they further strengthen this network, leveraging their national digital home channel Driveway and building upon their massive regenerating capital engine. Together, these endeavors create a unique and compelling high-growth strategy that provides transportation solutions wherever, whenever, and however consumers desire.\n<\/p>\n

Sites:
\n
<\/b>www.lithiamotors.com
\n<\/a>
<\/b>www.lithiainvestorrelations.com
\n<\/a>
<\/b>www.lithiacareers.com
\n<\/a>
<\/b>www.driveway.com<\/a><\/b><\/p>\n

Lithia Motors on Facebook
\n
<\/b>http:\/\/www.facebook.com\/LithiaMotors<\/a><\/p>\n

Lithia Motors on Twitter
\n
<\/b>http:\/\/twitter.com\/lithiamotors<\/a><\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201201005445\/en\/<\/a><\/span><\/p>\n

\nEric Pitt
\n
VP, Investor Relations and Treasurer
\n
EPitt@lithia.com
\n<\/a>
(541) 864-1748<\/p>\n

Susan Donahue
\n
Skyya PR
\n
susan.donahue@skyya.com
\n<\/a>
(646) 454-9378\n<\/p>\n

KEYWORDS:<\/b> Oregon Iowa United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Automotive General Automotive<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region MEDFORD, Ore.–(BUSINESS WIRE)– Lithia Motors & Driveway (NYSE: LAD) today announced it has acquired Ramsey Subaru and Mazda, the highest-volume Subaru and Mazda dealers in Iowa. This purchase further increases Lithia\u2019s footprint in the North Central Region of the United States. \u201cWe are delighted to add another high-performing store to serve our customers in the North Central Region,\u201d said Bryan DeBoer, Lithia Motors and Driveway\u2019s President and CEO. \u201cThis acquisition improves our brand mix and ability to complete in-home and in-network solutions throughout their entire vehicle ownership lifecycle.\u201d Lithia Motors has the broadest coast-to-coast automotive retail network in the nation, reaching over 92% of the United States. The … <\/p>\n

Continue reading “LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-390700","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nLAD Acquires $100 million in Revenue, Expanding Presence in North Central Region - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lad-acquires-100-million-in-revenue-expanding-presence-in-north-central-region\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"LAD Acquires $100 million in Revenue, Expanding Presence in North Central Region MEDFORD, Ore.–(BUSINESS WIRE)– Lithia Motors & Driveway (NYSE: LAD) today announced it has acquired Ramsey Subaru and Mazda, the highest-volume Subaru and Mazda dealers in Iowa. This purchase further increases Lithia\u2019s footprint in the North Central Region of the United States. \u201cWe are delighted to add another high-performing store to serve our customers in the North Central Region,\u201d said Bryan DeBoer, Lithia Motors and Driveway\u2019s President and CEO. \u201cThis acquisition improves our brand mix and ability to complete in-home and in-network solutions throughout their entire vehicle ownership lifecycle.\u201d Lithia Motors has the broadest coast-to-coast automotive retail network in the nation, reaching over 92% of the United States. 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