Lithia Motors Enters Into Canada With Pfaff Partnership

Lithia Motors Inc LAD has partnered with automotive retailer Pfaff Automotive Partners to expand into Canada. The financial terms of the agreement were not disclosed.
The deal marks the first entry of a U.S. public automotive retailer into the Canadian market.
Eleven dealership operations and Pfaff Leasing included in the partnership will continue to operate under the Pfaff brand name in Canada.
Chris Pfaff will continue his role as President and CEO of the group.
"We are excited to ignite our expansion into the Canadian market together with Pfaff," said Bryan DeBoer, LAD President and CEO.
The addition of Pfaff brings Lithia's total expected annualized revenue acquired in 2021 to $5.9 billion.
Price Action: LAD shares are trading higher by 0.69% at $329.90 on the last check Tuesday.

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