Lithia Motors Acquires Sisley Honda Dealership In Ontario

Lithia Motors Inc 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 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.