Lithia adds UK to footprint with the purchase of Jardine Motors Group
Lithia & Driveway has added another country to its footprint.
The retailer announced last week it has expanded to the United Kingdom with the purchase of Jardine Motors Group, which operates more than 50 premium luxury dealerships in the UK.
“The acquisition of Jardine Motors Group represents a significant new chapter in Lithia’s progress and strategic direction,” Lithia president and CEO Bryan DeBoer said in a news release.
“Jardine’s complementary leadership team, business model, sound financial performance and excellent OEM relationships make this group the ideal partner for our expansion into the United Kingdom,” DeBoer said. “As part of our broader growth plan, we firmly believe the combination of our two businesses will deliver significant value for employees, partners, and customers alike.”
Among the brands included in the Jardine Motors Group lineup are Audi, Aston Martin, BMW, Mini, Jaguar Land Rover, McLaren, Mercedes-Benz, Porsche, and Ferrari. The group had been owned Asia-based group Jardine Matheson for 31 years.
“With Jardine Matheson’s considerable support, we have successfully implemented our premium strategy and built a strong position in the UK motor sector, underpinned by high quality relationships with our brand partners,” said Neil Williamson, chief executive of Jardine Motors Group, in a news release.
“We are delighted to have found in Lithia a partner committed to further growth and development of our team and our network. Their support and expertise will enable us to capture the considerable growth opportunities we see ahead,” Williamson said. “I am confident we will thrive under this new partnership and look forward to working closely together as we realize our growth ambitions in the UK.”
Lithia expanded into Canada in summer 2021 with the purchase of Toronto-based Pfaff Automotive Partners, which represented Lithia’s first-ever acquisition outside of the U.S.