Lithia expands presence in Canada with Honda store purchase
Image courtesy of dealer group
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
U.S.-based auto retailer Lithia & Driveway, which expanded into Canada last year with the purchase of Toronto’s Pfaff Automotive Partners, has increased its Canadian footprint with a purchase announced Tuesday.
In the first addition to its Canadian portfolio since buying Pfaff, Lithia has acquired Thornhill, Ontario-based Sisley Honda.
The store, which opened in 1946 and is a multi-generational family business, is expected to bump Lithia’s total expected annualized revenue acquired this year above $1.2 billion.
Lithia financed the purchase via existing on-balance sheet capacity.
“We are excited to welcome the Sisley Honda team to our Lithia & Driveway family,” Lithia president and chief executive officer Bryan DeBoer said in a news release.
“With this addition we are able to expand our omni-channel network in Canada, strengthening our position in one of the top Canadian markets,” DeBoer said.
Subscribe to Auto Remarketing to stay informed and stay ahead.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
