Benzinga | Apr 13, 2021 07:17AM EDT

Lithia Motors & Driveway Acquires The Suburban Collection; Acquisition Terms Not Disclosed

Lithia Motors & Driveway (NYSE:LAD) today announced it has acquired The Suburban Collection, headquartered in Troy, Michigan. The acquisition is the first major platform in their North Central region and is expected to add $2.4 billion in annualized revenues. The transaction brings Lithia's total expected annualized revenue acquired to $6.5 billion since the launch of its 5-year plan to reach $50 billion in revenue and $50 of earnings per share just nine months ago. Lithia Motors & Driveway has now completed six of the eight largest acquisitions in the industry and is outpacing the plan's $4 billion annual target by over sixty percent.