M&A Deal Summary

Asbury Acquires Koons

On September 8, 2023, Asbury acquired automotive company Koons

Acquisition Highlights
  • This is Asbury’s 3rd transaction in the Automotive sector.
  • This is Asbury’s 4th transaction in the United States.
  • This is Asbury’s 1st transaction in Virginia.

M&A Deal Summary
Date 2023-09-08
Target Koons
Sector Automotive
Buyer(s) Asbury
Deal Type Add-on Acquisition
Advisor(s) Holland & Knight (Legal)

Target

Koons

Vienna, Virginia, United States
Koons is a regional private auto dealership group and automotive retailer with locations around the Washington-Baltimore area of the US. Koons was formed in 1973 and is headquartered in Vienna, Virginia.

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Buyer(S) 1

Buyer

Asbury

Duluth, Georgia, United States
Category Company
Founded 1996
Sector Automotive
Employees15,000
Revenue 14.8B USD (2023)
DESCRIPTION

Asbury is a large automotive retailer serving the US market. Asbury owns and operates new vehicle franchises, representing a variety of brands of automobiles at dealership locations and collision centers across the US. In addition, Asbury owns and operates stand-alone used vehicle stores under the Q auto brand name in Florida. Asbury's stores offer an extensive range of automotive products and services, including new vehicles, used vehicles, parts and services, and finance and insurance. ASBURY was incorporated in 1996 and is based in Duluth, Georgia.

DEAL STATS #
Overall 4 of 4
Sector (Automotive) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (Virginia) 1 of 1
Country (United States) 4 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-07 Stevinson Automotive

Lakewood, Colorado, United States

Stevinson Automotive is an automotive retail and service company. Stevinson Automotive is based in Lakewood, Colorado.

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Legal