Automotive retailer Lithia & Driveway acquires UK’s Pendragon dealership group

The acquisition of Pendragon Vehicle Management (PVM) allows the company to strengthen its operations with a highly profitable fleet management services business

Lithia & Driveway, an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, has announced that it intends to enter in a strategic partnership with Pinewood Technologies and acquire the UK motor and fleet management divisions of Pendragon PLC, the UK's third-largest automotive dealership group, according to a press release dated September 18.