MEDFORD, Ore. -

The retail footprint of Lithia & Driveway just keeps growing.

On Tuesday, the company announced the acquisition of Rock Honda, a Top 20 Honda New Volume Dealer in the U.S. The company highlighted the purchase of this high-performing Honda dealership in the Inland Empire continues its “fast-paced growth trajectory” and expands the reach of its omni-channel network.

The company recapped that Rock Honda is located in Fontana, Calif., and was the 16th largest New Volume Honda store in the nation in 2020.

In addition to vehicle sales and service, Rock Honda is also licensed to provide customers with personal insurance as part of their consumer offerings.

LAD projected that Rock Honda is expected to generate $170 million in annualized revenues, bringing its total expected annualized revenue acquired to date in 2021 to more than $4.9 billion.

Lithia pointed out that it is pacing ahead of five-year plan to achieve $50 in earnings per share (EPS) and $50 billion in revenue by 2025.

This purchase was financed using an existing on-balance sheet capacity, according to the company.

“We are excited to reach more consumers in the Southwest region and welcome the Rock Honda team to the Lithia & Driveway family,” president and chief executive officer Bryan DeBoer said.

“This high-performing, customer-focused store expands our omni-channel network and introduces a new adjacency with personal insurance products, further complementing our ability to provide consumers transportation solutions wherever, whenever and however they desire,” DeBoer went on to say.