---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-231116"
form_type: "8-K"
ticker: "ABG"
cik: "0001144980"
company_name: "ASBURY AUTOMOTIVE GROUP INC"
filed_at: "2023-09-08T23:59:59+00:00"
generated_at: "2026-06-10T22:00:46.434529+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 to acquire Jim Koons dealerships for ~$1.2B, adding 20 stores in Mid-Atlantic

## Summary
- Purchase price ~$1.2B ($740M goodwill, $417M real estate) for 20 dealerships, 6 collision centers, 29 franchises.
- Jim Koons group generated over $3B revenue in 2022; Asbury calls deal transformative for its Mid-Atlantic expansion.
- Transaction not subject to financing condition; expected close Q4 2023 or early Q1 2024.
- Asbury plans to fund with existing liquidity, credit facility, and cash on hand.

## SEC filing metadata
- accession: 0001193125-23-231116
- form_type: 8-K
- ticker: ABG
- cik: 0001144980
- company_name: ASBURY AUTOMOTIVE GROUP INC
- filed_at: 2023-09-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144980/000119312523231116/0001193125-23-231116-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144980/000119312523231116/d494750d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-231116
- JSON: https://secwatch.observer/filing/0001193125-23-231116.json
- Plain text: https://secwatch.observer/filing/0001193125-23-231116.txt

## Key facts
- Material Agreements
  ASBURY AUTOMOTIVE GROUP INC entered into Transaction Agreement with Jim Koons Dealerships valued at approximately $1.2 billion (effective 2023-09-07).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Jim Koons Dealerships
  - Value: approximately $1.2 billion
  - Effective: 2023-09-07
  source text: On September 7, 2023, Asbury Automotive Group, L.L.C. (“Purchaser”), a Delaware limited liability company and a wholly-owned subsidiary of Asbury Automotive Group, Inc., a Delaware corporation (the “Company”), entered into a Purchase and Sale Agreement (the “Transaction Agreement”) with various entities that comprise the Jim Koons automotive dealerships group (the “Jim Koons Dealerships”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144980/000119312523231116/0001193125-23-231116-index.htm

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