Lithia & Driveway announced the acquisition of Elk Grove Subaru in Elk Grove, California, further strengthening its presence in the Southwest region and the Sacramento area. This acquisition is expected to add $100 million in annual revenue, bringing Lithia's total year-to-date acquired annualized revenue to $180 million.
The acquisition was financed using existing on-balance sheet capacity, reflecting the company's disciplined approach to growth. This strategic move enhances Lithia's network density and expands its offerings with high-performing brands like Subaru.
In a significant capital allocation decision, Lithia's Board of Directors approved a $350 million increase to its share repurchase authorization, raising the total available funds for future repurchases to approximately $748 million. Year-to-date in 2025, the company has already invested over $71 million to repurchase more than 197,500 shares at a weighted average price of $361 per share.
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