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Benzinga
Benzinga
Business
Shivani Kumaresan

Lithia Motors Acquires Sisley Honda Dealership In Ontario

Honda Sisley LAD (Organization) NYSE Ontario Honda Motor Co Ltd Canada Thornhill
  • Lithia Motors Inc (NYSE:LAD) and Pfaff Automotive Partners have acquired Sisley Honda, based in Thornhill, Ontario, for an undisclosed sum.
  • The company expects the addition of Sisley Honda, one of the highest-volume Honda Motor Co Ltd (NYSE:HMC) dealerships in Canada, to expand its footprint.
  • Sisley is a multi-generational family business founded in 1946 and has represented the Honda brand for 45 years.
  • The deal brings LAD's total expected annualized revenue acquired in 2022 to over $1.2 billion.
  • Lithia financed the acquisition using existing on-balance sheet capacity. It held $161.4 million in cash and equivalents as of March 31, 2022.
  • Price Action: LAD shares are trading higher by 3.23% at $300.57 on the last check Tuesday.
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