Asbury Automotive acquires Stevinson Automotive for ~$377M, adds $715M annualized revenue

ASBURY AUTOMOTIVE GROUP INC

Acquired 8 dealerships in Denver (Lexus, Toyota, Porsche, Chevrolet, Hyundai, Jaguar) plus Land Rover open point.
Purchase price ~$300M goodwill + ~$77M real property; financed with cash on hand.
Stevinson adds ~$715M in annualized revenue; 48% from Toyota, 27% Lexus, 10% Porsche.
Asbury also has $5.7B annualized revenue under contract from Larry H. Miller and Total Care Auto acquisitions.
Kent Stevinson to remain to guide real estate and construction projects in Colorado.

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