Hill Ward Henderson advised Asbury Automotive Group (NYSE: ABG) in its acquisition of eight (8) new vehicle franchises from Stevinson Automotive located in the Denver market. The acquisition adds approximately $715 million in annual revenues for Asbury, and includes two (2) Lexus, two (2) Toyota, one (1) Porsche, one (1) Chevrolet, one (1) Hyundai, and one (1) Jaguar dealerships, plus one (1) Land Rover open point. The deal was completed on December 6, 2021.
Asbury, a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retail and service companies in the U.S.
The Hill Ward Henderson team representing Asbury was led by corporate shareholder Kevin Sutton and real estate shareholder Katherine Frazier, and the team also included corporate associates Ryan Angel and Sara Qureshi; real estate associate Jill Bell; intellectual property shareholder Steve Kelly; employee benefits and executive compensation shareholder Kirsten Vignec; and employee benefits associate Tim Zehnder.
The company press release from Asbury Automotive Group can be found here.