US auto dealer Asbury Automotive Group, Inc. has acquired privately-owned dealership group Jim Koons Automotive Companies for approximately $1.2bn.

The sale of Koons is one of the most sizeable in auto retail history, including 20 dealerships, 29 franchises and six body shops however the sale does not include all of the Koons family auto businesses. Asbury currently operates 138 dealerships, representing 31 domestic and foreign brands, as well as 32 body shops.

About Koons: As one of the 15 largest automotive retailers in the country, the ever-growing Jim Koons Automotive Companies currently represents 15 brands across 20 locations, and was founded in 1964. Koons Automotive employs a team of over 2,500 happy employees in the Mid-Atlantic region, and is the only automotive dealer to be named a Washington Business Journal’s “Best Place to Work” 11 times, and a Washington Post’s “Top Workplace” three times. Koons is focused on delivering a modern, simple, and convenient vehicle purchase and service experience.

About Asbury: Asbury Automotive Group is a company based in Atlanta that operates auto dealerships in various parts of the United States. Founded in 1995, it was ranked No. 360 on the 2022 Fortune 500 List. With 148 dealerships and 198 franchises representing 31 American, European, and Asian brands, it is the third largest automotive retailer in the United States as of March 2022.