secwatch.observer — SEC 8-K summary
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Issuer:     ASBURY AUTOMOTIVE GROUP INC (ABG)
CIK:        0001144980
Form:       8-K
Filed at:   2021-12-07T23:59:59+00:00
Accession:  0001144980-21-000147
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144980/000114498021000147/0001144980-21-000147-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144980/000114498021000147/abg-20211206.htm
  HTML page:      https://secwatch.observer/filing/0001144980-21-000147

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