Asbury Automotive Group, Inc. (NYSE: ABG) has completed the previously announced acquisition of Park Place Dealerships adding approximately $1.7 billion in annual revenues.
The operating assets to be acquired include 12 new vehicle franchises, all of which are located in the Dallas/Fort Worth market: 3 Mercedes-Benz, 3 Sprinter, 2 Lexus, 1 Jaguar, 1 Land Rover, 1 Porsche, and 1 Volvo. The acquisition will also include the Park Place auction and two collision repair centers.
“Park Place remains one of the best operators of luxury stores in the industry. Their portfolio of stores comes with a strong base of loyal clients