secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K/A
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001104659-24-027098
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000110465924027098/0001104659-24-027098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000110465924027098/tm247113d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-027098

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer