Lithia & Driveway (NYSE: LAD) has acquired Rockwall Hyundai, a dealership in Rockwall, Texas, for $75 million, the company said.
The transaction adds an estimated $75 million in annualized revenue to the Medford, Oregon-based automotive retailer’s operations and was financed using existing on-balance sheet capacity, according to CEO Bryan DeBoer.
The purchase strengthens Lithia’s presence in the Dallas-Fort Worth market, expanding network density in one of its most active Texas regions. The company already operates in Dallas-Fort Worth, Houston, Austin, Corpus Christi, San Antonio, and West Texas.
The acquisition brings Lithia’s total expected annualized revenue from acquisitions this year to $915 million.
In addition to the purchase, Lithia reported share repurchase activity for the current quarter. The company invested $40 million to repurchase approximately 108,000 shares at a weighted average price of $375, representing 0.46% of outstanding shares. Year to date, Lithia has invested $541 million and retired roughly 1.9 million shares at an average price of $284, or 8.1% of outstanding shares. It has $580 million remaining under its existing share repurchase authorization.
Lithia & Driveway is celebrating its 80th anniversary in 2026.
