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Lithia and Driveway Acquires Honda Dealership in Georgia, USA
Wednesday 15 September 2021

Oregon, US-based automotive retailer Lithia and Driveway (NYSE: LAD) has acquired Southeast, US Honda dealership, Curry Honda, located in Chamblee, Georgia, the company said.

This is LAD's first dealership in Georgia and its strategic location in the top-ten Atlanta market.

LAD also added to its Southwest network with the purchase of the number one Jeep volume dealer in California, year to date, Orange Coast Chrysler Jeep Dodge Ram Fiat in Costa Mesa.

Jon Gray, one of the top Chrysler, Jeep, Dodge leaders in the country, and past national dealer chairman of what is now Stellantis National Dealer Council, will continue to lead the dealership.

Together, these locations are expected to generate USD 320m in annualized revenue.

The addition of Curry Honda in the Atlanta metro area and Orange Coast Chrysler Dodge Jeep Ram Fiat in Orange County, California brings LAD's total expected annualized revenue acquired in 2021 to USD 6.2bn. 

These acquisitions follow shortly after LAD joined with Pfaff Automotive Partners to expand into Canada.

The company said it is well ahead of pace to exceed its five-year plan, announced in July 2020, to reach USD 50bn in revenue and USD 50 of earnings per share. These acquisitions were financed using existing on-balance sheet capacity.
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Date Published: 15/09/2021

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