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Lithia & Driveway to Form Strategic Partnership with Pinewood Technologies and Acquire Pendragon PLC's Fleet Management and UK Motor Divisions

PR Newswire - Mon Sep 18, 2023

MEDFORD, Ore., Sept. 18, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD, "Lithia") announced today that it intends to enter a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon plc ("Pendragon"), the UK's third largest automotive dealership group. This acquisition will round out Lithia's presence in the UK market and is expected to generate over $4.5 billion USD in annual revenues.

Read more at prnewswire.com

Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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