---
schema_version: "secwatch.filing_event.v1"
accession: "0001144980-23-000134"
form_type: "8-K"
ticker: "ABG"
cik: "0001144980"
company_name: "ASBURY AUTOMOTIVE GROUP INC"
filed_at: "2023-12-11T23:59:59+00:00"
generated_at: "2026-06-07T14:42:25.571414+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Asbury Automotive completes $1.2B acquisition of Jim Koons Automotive Companies

## Summary
- Acquisition adds 20 dealerships, 29 franchises, and 6 collision centers in VA, MD, DE.
- Expected annualized revenue of ~$3B from Koons; purchase price includes $740M goodwill.
- Funded via Asbury's existing credit facility and cash on hand.
- Koons is the 9th largest privately-held U.S. dealer group with top Toyota, Lexus, Mercedes franchises.

## SEC filing metadata
- accession: 0001144980-23-000134
- form_type: 8-K
- ticker: ABG
- cik: 0001144980
- company_name: ASBURY AUTOMOTIVE GROUP INC
- filed_at: 2023-12-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144980/000114498023000134/0001144980-23-000134-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144980/000114498023000134/abg-20231211.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001144980-23-000134
- JSON: https://secwatch.observer/filing/0001144980-23-000134.json
- Plain text: https://secwatch.observer/filing/0001144980-23-000134.txt

## Key facts
- M&A Transactions
  ASBURY AUTOMOTIVE GROUP INC completed an acquisition involving Jim Koons Dealerships for approximately $1.2 billion (closed 2023-12-11).
  - Action: acquisition
  - Counterparty: Jim Koons Dealerships
  - Consideration: approximately $1.2 billion
  - Closing: 2023-12-11
  source text: and Sale Agreement with various entities that comprise the Jim Koons automotive dealerships group (the “Transaction”) for an aggregate net purchase price of approximately $1.2 billion, which includes $740 million for goodwill, approximately $420 million for the real estate and leasehold improvements and approximately $70 million for new vehicles, used
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144980/000114498023000134/0001144980-23-000134-index.htm

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