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Lithia & Driveway (NYSE:LAD) introduced on Tuesday it has bought its first location in Kentucky to broaden its retail footprint and presence in what it says is without doubt one of the strongest retail areas in the nation.
“With the addition of Glenn’s Freedom CDJR, we proceed to construct out our bodily community and broaden shopper optionality inside our omni-channel technique,” mentioned Lithia CEO Bryan DeBoer.
The corporate mentioned the brand new retailer is projected to generate greater than $140M in annualized income.
Lithia (LAD) has already acquired 33 shops in 2022 which are anticipated to contribute annualized income of $3.5B. Wanting forward, acquisitions are anticipated to proceed to be a key a part of the corporate’s 2025 Plan to succeed in $50B in income and $55 to $60 in EPS.
See all the expansion metrics on LAD.
