Lithia Motors Acquires Sisley Honda Dealership In Ontario

• 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.