Jardine Motors Group

Lithia & Driveway Enters into a Strategic Partnership with Pinewood Technologies and Completes Acquisition for Pendragon PLCs Fleet Management and UK Motor Divisions

Retrieved on: 
Thursday, February 1, 2024
Partnership, Growth, Jardine Motors Group, OEM, Royal Tunbridge Wells, LAD, Transport, Pendragon PLC, Acquisition, Lithia, BMW, Software as a service, London Stock Exchange

MEDFORD, Ore., Feb. 1, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announces today that it has completed the transaction with Pendragon PLC ("Pendragon", to be renamed Pinewood Technologies Group PLC "Pinewood Technologies") acquiring the UK motor and fleet management divisions of Pendragon, the UK's third largest automotive dealership group and forming a strategic partnership with Pinewood Technologies.

Key Points: 
  • MEDFORD, Ore., Feb. 1, 2024 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announces today that it has completed the transaction with Pendragon PLC ("Pendragon", to be renamed Pinewood Technologies Group PLC "Pinewood Technologies") acquiring the UK motor and fleet management divisions of Pendragon, the UK's third largest automotive dealership group and forming a strategic partnership with Pinewood Technologies.
  • Pinewood's dealer management software remains listed on the London Stock Exchange under the name Pinewood Technologies plc and will become a pure-play software-as-a-service (SaaS) business.
  • These additions build on the final adjacencies contemplated in the company's strategic design outlined in 2020 and growth in the United Kingdom.
  • Bryan DeBoer, Lithia & Driveway President and CEO, said:
    "Today marks the formal completion of our investment in Pinewood and Pendragon.

Lithia & Driveway (LAD) Expands into United Kingdom with Jardine Motors Group

Retrieved on: 
Thursday, March 16, 2023
Aston, Go On Lad, Acquisition, McLaren, Ferrari, LAD, NYSE, Partnership, OEM, Lithia & Driveway Fields, Jardine Motors Group, BMW, Growth, Jaguar Land Rover, Mini, Mercedes-Benz, Automotive industry, Porsche, Audi

MEDFORD, Ore., March 16, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today the company's expansion into United Kingdom with Jardine Motors Group.

Key Points: 
  • MEDFORD, Ore., March 16, 2023 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) announced today the company's expansion into United Kingdom with Jardine Motors Group.
  • Lithia & Driveway (NYSE: LAD) announced today the company's expansion into United Kingdom.
  • "The acquisition of Jardine Motors Group represents a significant new chapter in Lithia's progress and strategic direction," said Bryan DeBoer, Lithia & Driveway's President and CEO.
  • Under Jardine Matheson's long-term ownership, Jardine Motors Group has grown from a family-run vehicle retailer in East Anglia into one of the UK's premier automotive groups.