Hill Ward Henderson advised Asbury Automotive Group (NYSE: ABG) in its acquisition of 12 new vehicle luxury franchises from Park Place located in the Dallas/Fort Worth market. The acquisition is the largest in Asbury’s history, with a goodwill value of $685 million and acquired revenues of $1.7 billion on an annualized basis. The deal was completed on August 24.
Asbury, a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retail and service companies in the U.S.
The Hill Ward Henderson team representing Asbury was led by corporate shareholder Kevin Sutton and real estate shareholder Katherine Frazier and the team also included corporate associates Ryan Angel and Joshua Gehres; real estate shareholder Scott Dibbs, senior counsel Lisa Gilleland and associate Jill Bell; intellectual property shareholder Steve Kelly; and employee benefits and executive compensation shareholder Kirsten Vignec.