Lithia & Driveway (NYSE:LAD) today announced the acquisition of Rockwall Hyundai in Rockwall, Texas, as part of the company’s continued strategic network expansion and brings an estimated $75 million in annualized revenue.

"Adding Rockwall Hyundai to the Lithia & Driveway network strengthens our presence in the growing Dallas-Fort Worth market and creates greater network density for our customers," said Bryan DeBoer, Lithia & Driveway President and CEO. "This acquisition reflects our disciplined and strategic approach to expansion, and we remain focused on growing strong teams, high-quality franchises, and providing seamless ownership experiences throughout the car buying process."

Lithia's Texas dealership network serves drivers across Dallas-Fort Worth, Houston, Austin, Corpus Christi, San Antonio, West Texas and other communities throughout the state.

This addition brings LAD’s total year-to-date expected annualized revenue acquired to $915 million. This acquisition was financed using existing on-balance sheet capacity.