Asbury Automotive Group Expands North Carolina/Virginia Group By Adding Three Franchises

by Staff

May 20, 2002

2 min to read

Asbury Automotive

Group, Inc. announced May 20 that it has acquired two

dealerships in the Winston-Salem-Greensboro metropolitan area and has

been awarded a new franchise in Richmond, VA.

All three are being incorporated into Asbury's Crown Automotive

Company platform. The dealerships include Dickinson Dodge in

Fayetteville, Rice-Marko Chrysler in Greensboro, and Crown MINI of

Richmond, VA.

"The acquisition of these dealerships complements and expands

Asbury's existing business in North Carolina," said Michael Kearney,

president and CEO of Asbury Automotive North Carolina, Crown

Automotive Company. "We're also delighted to be 1 of only 70 MINI

franchises awarded in the U.S. by their parent company, BMW. We

recently received our first shipment of vehicles, and we cannot keep

them in stock."

"The Greensboro-Winston-Salem market is one that has experienced

significant population growth over the last decade," said Kenneth B.

Gilman, CEO of Asbury Automotive Group. "As such we believe these

acquisitions have high upside potential."

With these acquisitions, Asbury says they now operate 21 franchises in

North Carolina and Virginia.

About Asbury Automotive Group

Asbury Automotive Group, Inc. headquartered in Stamford,

Connecticut, claims to be one of the largest automobile retailers in the U.S.

Asbury operates through nine geographically concentrated, individually

branded "platforms". These platforms operate 91 retail auto stores,

encompassing 127 franchises for the sale and servicing of 36 different

brands of American, European and Asian automobiles. The company says they offer

customers an extensive range of automotive products and services,

including new and used vehicle sales and related financing and

insurance, vehicle maintenance and repair services, replacement parts

and service contracts.

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