MileOne Autogroup acquired Lexus of Wilmington from Asbury Automotive Group, Inc. for $100 million.
March 04, 2024
Share
MileOne Autogroup acquired Lexus of Wilmington from Asbury Automotive Group, Inc. (NYSE:ABG) for $100 million on March 4, 2024. Presidio Merchant Partners LLC acted as financial advisor and David Grubman of Jones Day acted as legal advisor to Asbury Automotive Group, Inc. McNees Wallace & Nurick LLC acted as legal advisor to MileOne Autogroup.
MileOne Autogroup completed the acquisition of Lexus of Wilmington from Asbury Automotive Group, Inc. (NYSE:ABG) on March 4, 2024.
Asbury Automotive Group, Inc. is an automotive retailer company. The Company operates through two segments: Dealerships and Total Care Auto (TCA). The Company offers a range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services, and finance and insurance (F&I) products, which includes arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection (GAP) debt cancellation and prepaid maintenance. The Company operates approximately 160 new vehicle dealerships, consisting of 208 franchises, representing 31 domestic and foreign brands of vehicles. Its TCA, powered by Landcar, is a provider of service contracts and other vehicle protection products, and 37 collision repair centers.
ASBURY AUTOMOTIVE GROUP, INC. 
