Lithia grows in Canada, updates share repurchases
Image courtesy of Lithia & Driveway.
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The most prolific buyer in the auto retail sector has made yet another acquisition — this time, north of the border.
Lithia & Driveway announced it has completed the acquisition of Fines Ford in Bolton, Ontario. In a news release, the dealership group said the investment in the Toronto area demonstrates its “continued ability to strengthen its network in the North American market.”
The company said its new addition is expected to increase annualized revenue by $100 million, raising its total year-to-date expected annualized revenue to $2.2 billion. The purchase was financed using existing on-balance sheet capacity.
Lithia operates 22 locations in Canada and overall has more than 450 locations in the U.S., Canada and the U.K.
“This strategic investment in Canada’s No. 1 volume brand strengthens our omnichannel network in the nation’s largest market,” president and CEO Bryan DeBoer said. “Fines Ford’s customer loyalty and established reputation in the community align perfectly with our strategy to provide exceptional experiences wherever, whenever and however customers desire.
“This accretive acquisition reflects our disciplined approach to delivering sustainable growth and shareholder value while bringing new customers into our unique ecosystem.”
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Share repurchase
Lithia & Driveway also issued an update of its share repurchases, noting it invested $274 million in the current quarter to repurchase nearly 875,000 shares — 3.3% of outstanding shares — at a weighted average price of $313.
“Our share repurchases this quarter demonstrate our conviction in our resilient profitability, generative cash flows and omnichannel model,” DeBoer said. “Our strong balance sheet and shares trading below intrinsic value allows us to return capital while also strengthening our network through strategic acquisitions.”
LAD has invested nearly $933 million in 2025 to repurchase 2.98 million shares at a weighted average price of $313. That represents 11.3% of outstanding shares, with $636 million remaining available for repurchase under the existing share repurchase authorization.
