Benzinga | Nov 9, 2021 11:35AM EST

Lithia & Driveway Enters North American Powersports Market With Addition Of Pfaff Harley-Davidson Dealership

Lithia & Driveway (NYSE:LAD) today announced their entrance into North American powersports with the acquisition of Pfaff Harley-Davidson in Toronto, Canada. The location also becomes the first motorcycle dealership within the Lithia portfolio.

"We are delighted to join the Harley-Davidson dealer family through this partnership with our team at Pfaff Automotive," said Bryan DeBoer, LAD President and CEO. "Harley-Davidson is a storied brand with a rich history, passionate owners, and a premium product lineup that is well aligned with our business model."

The addition of Pfaff Harley-Davidson brings LAD's total expected annualized revenue acquired in 2021 to nearly $6.3 billion. The company is well ahead of schedule and positioned to exceed their plan to reach $50 billion USD in revenue and $50 USD of earnings per share by 2025.