Lithia & Driveway announced the acquisition of Stohlman Subaru in Sterling, Virginia, expanding its presence in the Mid-Atlantic region. This strategic addition is expected to contribute $80 million in annualized revenue to the company's operations.
The acquisition was financed using Lithia's existing on-balance sheet capacity, demonstrating the company's financial flexibility for growth initiatives. This move strengthens Lithia's brand offerings in a dynamic market and aligns with its omnichannel platform strategy.
Additionally, Lithia provided an update on its capital allocation, revealing that it deployed $107 million to repurchase shares at an average price of $372 since the end of the third quarter. Approximately $454 million remains available under the current share repurchase authorization, indicating a continued commitment to returning value to shareholders.
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