Transaction includes 54 new vehicle dealerships and 11 collision repair centers.
Asbury Automotive Group, Inc. (NYSE:ABG) announced an agreement with the Larry H. Miller Group of Companies to acquire Larry H. Miller Dealerships, the eighth largest dealer group in the U.S., and Total Care Auto (TCA), Powered by Landcar.
This transaction will diversify Asbury’s geographic mix, with entry into six Western states: Arizona, Utah, New Mexico, Idaho, California, and Washington, and adds to its growing Colorado footprint. Larry H. Miller Dealerships portfolio mix of largely domestic brands has historically delivered strong and stable margins in these markets.
The operating assets
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.