Lithia & Driveway (LAD) announced the company’s expansion into Canada through a new partnership with Toronto-based Pfaff Automotive Partners.
The transaction is LAD’s first international acquisition, bringing with it Pfaff’s 11 locations in the Greater Toronto area, as well as Vancouver and Calgary, and Pfaff’s leasing business. The Pfaff brand will remain, and Chris Pfaff will continue to act as President and CEO.
“Canada has been our top target for growth outside of the United States with its similar business practices and a market opportunity of five million new and used cars sold annually,” said Bryan DeBoer, LAD president and CEO. “Beyond its size, Pfaff has an excellent management team, and its locations provide an ideal hub for further expansion. Pfaff offers a customer-friendly experience with its best price first approach and captive in-house leasing option. This simple, transparent experience perfectly aligns with our technology-enabled online offerings. We warmly welcome Chris Pfaff and the entire Pfaff team to the Lithia & Driveway family.”
Pfaff Automotive Partners was founded by Chris Pfaff’s father Hans J. Pfaff in 1964 and has since expanded to become one of Canada’s leading premium automotive group. Pfaff is widely known for its passion for all things automotive and its decades-long commitment to motorsports.
“This partnership is borne out of a relationship that spans five years, and we are confident that the cultural alignment between our organizations makes this the perfect launch point for Lithia & Driveway in Canada,” said Christopher Pfaff, president and CEO of Pfaff Automotive Partners. “Currently, there is no nation-wide, e-commerce player in Canada, which is why we believe this partnership will deliver a first-mover advantage in acquiring additional locations and deploying LAD’s innovative, digital platforms across this country.”