---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-027098"
form_type: "8-K/A"
ticker: "ABG"
cik: "0001144980"
company_name: "ASBURY AUTOMOTIVE GROUP INC"
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T16:43:39.583629+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Asbury Automotive completes $1.5B Jim Koons acquisition; acquired entity had $2.36B revenue in 9 months

## Summary
- Acquired substantially all assets of Jim Koons Dealerships for ~$1.5B; transaction closed Dec 11, 2023.
- Audited financials: Jim Koons Organization revenue $2.36B, net income $123.5M for Jan-Sep 2023.
- As of Sep 30, 2023, Jim Koons had total assets $658M, equity $236M.
- Asbury filed unaudited pro forma condensed combined balance sheet and income statement as of Sep 30, 2023.
- Acquisition adds 23 dealership franchises across Maryland, Virginia, Delaware, and the Carolinas.

## SEC filing metadata
- accession: 0001104659-24-027098
- form_type: 8-K/A
- ticker: ABG
- cik: 0001144980
- company_name: ASBURY AUTOMOTIVE GROUP INC
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144980/000110465924027098/0001104659-24-027098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144980/000110465924027098/tm247113d1_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-027098
- JSON: https://secwatch.observer/filing/0001104659-24-027098.json
- Plain text: https://secwatch.observer/filing/0001104659-24-027098.txt

## Key facts
- M&A Transactions
  ASBURY AUTOMOTIVE GROUP INC completed an acquisition involving Jim Koons Dealerships / Jim Koons automotive dealerships group (closed 2023-12-11).
  - Action: acquisition
  - Counterparty: Jim Koons Dealerships / Jim Koons automotive dealerships group
  - Closing: 2023-12-11
  source text: On December 11, 2023, Asbury Automotive Group, Inc. (the “Company”) filed a Current Report on Form 8-K (the “Initial Report”) with the Securities and Exchange Commission (the “SEC”) to report the completion of the acquisition by Asbury Automotive Group, LLC (“Purchaser”), a Delaware limited liability company and a wholly-owned subsidiary of Asbury Automotive Group, Inc., a Delaware corporation (the “Company”), of substantially all of the assets, including all real property and businesses of the Jim Koons Dealerships (collectively, the “Businesses”) pursuant to a Purchase and Sale Agreement with various entities that comprise the Jim Koons automotive dealerships group (the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144980/000110465924027098/0001104659-24-027098-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.