Lithia & Driveway announced the purchase of two Mercedes-Benz dealerships in Collierville, Tennessee, and Jackson, Mississippi. This strategic acquisition, finalized on June 2, adds an estimated $220 million in annualized revenue and enhances Lithia's luxury brand portfolio and store density in the Southeast region.
This addition brings Lithia's total year-to-date expected annualized revenue acquired to $400 million, demonstrating continued aggressive expansion. The acquisition was financed using existing on-balance sheet capacity, aligning with the company's disciplined capital allocation strategy.
The company also provided an update on its share repurchase program, having invested $230 million year-to-date in 2025 to repurchase approximately 729,000 shares at a weighted average price of $315 per share. With $589 million remaining under the existing authorization, management indicated that acquisitions and share repurchases are currently viewed at parity in terms of capital allocation.
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