Asbury Automotive Group acquires Jim Koons Automotive
Client(s) Asbury Automotive Group, Inc.
Jones Day advised Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., in its acquisition of Jim Koons Automotive Group of Companies for approximately $1.2 billion in cash.
The Jim Koons Automotive dealerships represent approximately $3 billion in revenue and is the ninth largest privately-owned dealership group in the U.S. This acquisition is the largest auto retail transaction since 2021.
As a result of the transaction, Asbury acquired 20 new vehicle dealerships, six collision centers, parts, all new and used vehicles, service loaners, fixed assets and leaseholds.