Lithia Motors & Driveway (LAD) Adds $2.4 Billion in Annualized Revenue with Addition of The Suburban Collection, a Major Platform in Key North Central Region - PRNewswire

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The acquisition includes all 56 Suburban Collection franchises, making today's announcement one of the largest number of franchises ever sold in a strategic transaction. "Lithia was once again pleased to work with the Presidio Group, who represented the Fischer family and played a key role in the success of this historic transaction," said DeBoer. "The franchise mix is perfectly suited for Lithia & Driveway's North Central region and provides a massive platform to build on." The Suburban Collection is the 12^th largest privately-owned dealership group in the U.S. based on revenue and is in the strongest domestic market serving our country's auto industry employee base. This transaction was financed using most of the remaining capital raised in concurrent equity and debt offerings late last year.

As Lithia enters their 75th year in operation, this historic acquisition marks the auto industry's continued consolidation with the combination of these two companies founded in the 1940's. The Lithia and Suburban organizations come with three quarters of a century of community involvement and the ability to further leverage the network, data, technology, and team members to provide convenient, simple, affordable, and empowered e-commerce, in-home solutions across our nation through the growing Driveway Brand.

About Lithia Motors & Driveway:
Lithia Motors & Driveway 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's vehicle ownership experience through various consumer channels, 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 the 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.

Sites:
www.lithiamotors.com
www.lithiainvestorrelations.com
www.lithiacareers.com
www.driveway.com

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SOURCE Lithia Motors, Inc.