Asbury Automotive Group Acquires Jim Koons Automotive Companies
September 8, 2023
Asbury Automotive Group agreed to acquire Jim Koons Automotive Companies, a Mid-Atlantic dealer group with 20 dealerships, 29 franchises and six collision centers that generated over $3 billion in revenue in 2022. The transaction, advised on the sell-side by Kerrigan Advisors, expands Asbury's presence in the Washington–Baltimore market and is expected to close in late 2023 or early 2024.
- Buyers
- Asbury Automotive Group
- Targets
- Jim Koons Automotive Companies
- Sellers
- Jim Koons Automotive Companies, Jim Koons (founder/owner)
- Industry
- Automotive
- Location
- Virginia, United States
- Transaction Type
- Buyout
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