Lithia & Driveway acquires two Mercedes-Benz dealerships in Tennessee and Mississippi

June 10, 2025 03:15 AM PDT | By EODHD

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Lithia & Driveway acquires two Mercedes-Benz dealerships in Tennessee and Mississippi — Image source: Kalkine Media

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* Lithia & Driveway (NYSE:LAD [https://seekingalpha.com/symbol/LAD]) Tuesday announced [https://seekingalpha.com/pr/20131084-lithia-and-driveway-expands-retail-network-in-southeast-region-and-provides-share-repurchase] the purchase of two Mercedes-Benz (OTCPK:MBGAF [https://seekingalpha.com/symbol/MBGAF]) (OTCPK:MBGYY [https://seekingalpha.com/symbol/MBGYY]) stores in Collierville, TN, and Jackson, MS. * This strategic move increases store density and luxury mix by adding LAD's first Mercedes-Benz store in the Southeast region, bringing an estimated $220 million in annualized revenue. * This addition brings LAD's total year-to-date expected annualized revenue acquired to $400 million. This acquisition was financed using existing on-balance sheet capacity, the company said [https://seekingalpha.com/pr/20131084-lithia-and-driveway-expands-retail-network-in-southeast-region-and-provides-share-repurchase]. * To date this year, Lithia & Driveway (NYSE:LAD [https://seekingalpha.com/symbol/LAD]) has invested $230 million to repurchase approximately 729,000 shares at a weighted average price of $315 per share.

MORE ON LITHIA & DRIVEWAY, MERCEDES-BENZ GROUP AG * Lithia Motors, Inc. 2025 Q1 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4777368-lithia-motors-inc-2025-q1-results-earnings-call-presentation] * Lithia Motors, Inc. (LAD) Q1 2025 Earnings Call Transcript [https://seekingalpha.com/article/4777366-lithia-motors-inc-lad-q1-2025-earnings-call-transcript] * Mercedes-Benz: Estimating The Impact Of Tariffs [https://seekingalpha.com/article/4773599-mercedes-benz-estimating-the-impact-of-tariffs] * Used car prices rise to the highest level since 2023 amid tariff concerns [https://seekingalpha.com/news/4443524-used-car-prices-rise-to-the-highest-level-since-2023-amid-tariff-concerns] * Used car dealers: Seeking Alpha analysts vs Wall Street [https://seekingalpha.com/news/4441799-used-car-dealers-seeking-alpha-analysts-vs-wall-street]

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