Asbury Automotive Group Agrees To Acquire Jim Koons Automotive Companies; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Asbury Automotive Group has agreed to acquire Jim Koons Automotive Companies, the ninth largest privately-owned dealership group in the U.S. The deal, one of the largest in auto retail history, includes 20 dealerships, 29 franchises, six collision centers and high volume Toyota and Stellantis dealerships. Asbury plans to fund the purchase with its existing liquidity, credit facility and cash on hand.
September 08, 2023 | 11:03 am
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Asbury Automotive Group's acquisition of Jim Koons Automotive Companies could potentially boost its revenues and market presence. The deal is funded through existing liquidity, credit facility and cash on hand.
The acquisition of Jim Koons Automotive Companies, a significant player in the U.S. auto dealership market, could potentially increase Asbury's market share and revenues. The fact that Asbury is funding the deal with its own resources suggests financial stability, which could be viewed positively by investors.
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