Asbury Automotive Group to acquire Larry H. Miller Dealerships and Total Care Auto for $3.2 billion
Clients Asbury Automotive Group, Inc.
Jones Day is advising Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., in its acquisition of Larry H. Miller Dealerships, and Total Care Auto, Powered by Landcar for $3.2 billion. The operating assets acquired include 54 new vehicle dealerships, seven used vehicle dealerships, and 11 collision centers. In addition to the dealerships, Asbury will acquire TCA, a leading provider of service contracts and other vehicle protection products, providing enhanced profitability and cash flow. The transaction is expected to close in the fourth quarter of 2021 and is subject to automobile factory approvals and other customary closing conditions.