ABG meaning in Business ?

Answer:

What is Asbury Automotive Group, Inc. mean?

Asbury Automotive Group is a company based in Atlanta and was founded in 1995. The company operates auto dealerships in various parts of the United States. As of 2018 its rank in the Fortune 500 is 434 out of 500.

As of December 2016, it is one of the largest automobile retailers in the United States, operating 96 franchises (80 dealership locations) in 18 metropolitan markets within 10 states. As of August 2017, its dealerships represent 29 American, European and Asian brands. In 2016, the company reported revenues of $6.5 billion and sold over 180,000 retail vehicles. Currently based out of Duluth, GA, the company is led by President & CEO, David W. Hult.

In February 2017, Asbury finalized the acquisition of Hare Chevrolet and Hare Isuzu Truck Center, operating in Noblesville, IN.

In March 2017, Asbury finalized the opening of Nalley Nissan Cumming, an open point awarded to Asbury in Metro Atlanta.

On August 22, 2017, Monaghan announced that he will step down from his position at Asbury effective January 2018, to be replaced by chief operating officer David Hult.

On January 9, 2018, Asbury finalized the acquisition of Terry Lee Honda in Avon, IN, adding a second location to their Hare Automotive brand.

In February 2019, Asbury agreed to acquire the four-location Bill Estes Auto Group.

In December 2019, Asbury agreed to buy Park Place Dealerships for $1 Billion. On March 24, it was announced the deal is canceled amid covid concerns. Asbury to pay $30 million in termination fees

On Sept 29, 2021, Asbury purchased all 70 dealerships and land in the Utah-based Larry H. Miller Automotive Group for $3.2 billion dollars.

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