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Lithia Motors Expands Footprint

|Includes: Lithia Motors, Inc. (LAD)

Lithia Motors (NYSE:LAD) announced a definitive agreement to acquire DCA Auto Group. This will add 27 stores to the current 101 stores in the Lithia group upon closing. The acquisition is expected to add $2.3 billion in annualized revenues and $0.65 to $0.75 in annualized earnings. This accretive acquisition is consistent with prior company statements and exceeds guidance provided for 2014. The company presentation describing organic and acquisition growth can be found here

Disclosure: The author is long LAD.