KAR Auction Services, Inc. (NYSE: KAR) announced that its subsidiary, ADESA, Inc., has signed a definitive agreement to acquire eight auctions owned by the Brasher family. Brasher’s eight locations are: Brasher’s Salt Lake, Brasher’s Sacramento, Brasher’s Portland, Brasher’s Boise, Brasher’s San Jose, Brasher’s Northwest, Brasher’s Reno and Brasher’s Fresno. Brasher’s key corporate and local auction personnel will maintain leadership roles across the Brasher auctions.
In 2015, Brasher’s sold approximately 190,000 vehicles, generating revenue and EBITDA of approximately $140 million and approximately $34 million, respectively. In addition to its physical auction services, Brasher’s also provides floor plan financing to its customers