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Asbury Automotive Group Agrees To Acquire Jim Koons Automotive Companies; Terms Not Disclosed

Author: Benzinga Newsdesk | September 08, 2023 07:03am

Jim Koons Automotive Companies is the ninth largest privately-owned dealership group in the U.S. The sale of the Mid-Atlantic Region company is one of the most sizable in auto retail history, representing over $3 billion in revenue in 2022 and includes 20 dealerships, 29 franchises, six collision centers and one of the highest volume Toyota and Stellantis dealerships in the US. Asbury plans to fund the purchase price with its existing liquidity, credit facility and cash on hand.

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