Lithia & Driveway (LAD) said Tuesday it has completed the acquisition of Fines Ford in Toronto, Canada, in a deal expected to add about $100 million in annualized revenue.
The acquisition raises year-to-date expected annualized revenue additions to about $2.2 billion and was funded with existing on-balance sheet capacity, Lithia said.
Shares of the company were up by nearly 1% in recent Tuesday premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.