US Market News
2月前
Asbury Automotive Group Unveils New Sandy Springs Dealership Support Center with Grand Opening Ribbon Cutting CeremonyApril 7, 2026 4:53 PM
Business Wire
Asbury Automotive Group, Inc. (NYSE: ABG) (the “Company”), one of the largest automotive retail and service companies in the United States, today celebrated the grand opening of the Company’s state-of-the-art Dealership Support Center.
Renovation on the new Dealership Support Center, located at 6655 Peachtree Dunwoody Road, in the heart of Sandy Springs, began in 2025 with corporate team members working from the building as early as November 2025. The renovated property offers modern workspaces that support both collaboration and focused work, as well as wellness rooms and an arcade-style game room. Additionally, the Dealership Support Center features an on-site café for employees and visitors to enjoy and an updated interior design, reflecting Asbury’s mission, vision, and values.
“We are proud to call Sandy Springs our corporate home,” said David Hult, Asbury president & CEO. “This transition marks a significant milestone for our team, and the ideal location of Sandy Springs provides convenient access to a vibrant community with world-class restaurants, entertainment, and community. We look forward to our next chapter here.”
“We are delighted to welcome Asbury Automotive Group to Sandy Springs,” said Mayor Rusty Paul. “Asbury will bring 350 new jobs to our City, representing a tremendous investment in both our people and our local economy.”
Conveniently located in Atlanta’s Central Perimeter, Sandy Springs is home to many Fortune 1000 companies. Among the largest corporate employers are United Parcel Service, Smurfit WestRock, Veritiv Corp., Newell Brands Inc., Intercontinental Exchange/NYSE, Cox Communications, Inspire Brands, Mercedes Benz USA, and now, Asbury Automotive Group.
Choate Construction, the original General Contractor on the building, was the General Contractor for the Dealership Support Center renovation. Praxis3 provided architecture and design services.
About Asbury Automotive Group, Inc.
Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Atlanta, Georgia, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury’s constant North Star. Asbury presently operates 158 new vehicle dealerships, consisting of 202 franchises and representing 34 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 37 collision repair centers. Asbury offers an extensive 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 products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America’s Fastest Growing Companies 2024 by the Financial Times, one of the World’s Most Trustworthy Companies for 2024 and 2025 by Newsweek, and one of America’s Most Successful Small-Cap Companies by Forbes for 2026.
For additional information, visit www.asburyauto.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260407999882/en/
MEDIA CONTACT:
Morgan Irwin
Head of PR & Communications, Asbury Automotive Group
US Market News
4月前
Asbury Automotive Group Portfolio Optimization; Increase in Share Repurchase Authorization to Replenish Such Authorization to $500 Million of AvailabilityFebruary 25, 2026 4:30 PM
Business Wire
Asbury Automotive Group, Inc. (NYSE: ABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., announced the completed sale of ten dealerships across Indiana, Missouri and South Carolina as part of capital allocation and portfolio optimization efforts.
Asbury received approximately $210 million in net proceeds from the sale of the dealerships. The proceeds are net of mortgage payoffs for the real estate and estimated taxes. The annualized revenue from these ten dealerships was approximately $610 million.
In addition, the Company today announced that its board of directors approved an increase in the authorization of the share repurchase plan for the Company of $424 million. Year to date, the Company has spent $100M repurchasing 441,000 shares. As of February 25, 2026, the Company had $76 million of remaining availability to repurchase shares of common stock under its existing stock repurchase program. As a result, with the increase in authorization announced today, the total availability under the authorization is $500 million as of such date.
“The sale of these stores was the right decision for Asbury to ensure capital is being used for its highest return to shareholders,” said David Hult, Asbury’s president & chief executive officer. “The proceeds are expected to be invested in the Company to accelerate reduction of leverage ratio to below 3.0x and continue deploying capital to share repurchases. Additionally, the increased share authorization emphasizes our commitment to our shareholders and gives us confidence in the execution of our strategy and the outlook for our business.”
Under the amended stock repurchase program, the shares of common stock of the Company may be purchased from time to time in the open market, in privately negotiated transactions or in other manners as permitted by federal securities laws and other legal and contractual requirements. The share repurchases could include purchases pursuant to a written trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which allows companies to repurchase shares of stock at times when they might otherwise be prevented from doing so by securities laws or under self-imposed trading blackout periods. The extent to which the Company repurchases its shares, the number of shares and the timing of any repurchase will depend on such factors as Asbury’s stock price, general economic and market conditions, the potential impact on its capital structure, the expected return on competing uses of capital such as strategic dealership acquisitions and capital investments and other considerations. The program does not require the Company to repurchase any specific number of shares, and may be modified, suspended or terminated at any time without further notice.
About Asbury Automotive Group, Inc.
Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Atlanta, Georgia, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury’s constant North Star. Asbury presently operates 161 new vehicle dealerships, consisting of 209 franchises and representing 36 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 38 collision repair centers. Asbury offers an extensive 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 products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America’s Fastest Growing Companies 2024 by the Financial Times, one of the World’s Most Trustworthy Companies for 2024 and 2025 by Newsweek, and one of America’s Most Successful Small-Cap Companies by Forbes for 2026.
For additional information, visit www.asburyauto.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions, projections regarding Asbury's financial position, liquidity, results of operations, cash flows, leverage, market position, the timing and amount of any stock repurchases, optimization of our dealership portfolio, revenue enhancement strategies, operational improvements, and business strategy. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied in our forward-looking statements, which risk factors are set forth in Asbury's filings with the U.S. Securities and Exchange Commission from time to time, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260225486022/en/
Investors & Reporters May Contact:
Joe Sorice
Sr. Manager, Investor Relations
(770) 418-8211
ir@asburyauto.com
Original: Asbury Automotive Group Portfolio Optimization; Increase in Share Repurchase Authorization to Replenish Such Authorization to $500 Million of Availability
US Market News
4月前
Park Place Dealerships Breaks Ground on New Porsche Dealership and Expanded Volvo StoreFebruary 13, 2026 2:00 PM
Business Wire
Park Place Dealerships, a part of Asbury Automotive Group, Inc. (NYSE: ABG), broke ground today on a new Porsche dealership and an expanded Volvo facility on Lemmon Avenue in Dallas. The project represents a significant investment in the client experience and the future of luxury automotive retail in North Texas.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260213415239/en/From left to right: Kendrick Lathum, VP National Industrial Market Leader, Brinkmann Construction; Dave Kurtz, VP Area South/Central, Porsche Cars North America; Dan Clara, Chief Operating Officer, Asbury Auto; Jesse Moreno, Mayor Pro Tem, City of Dallas; Matt Woolsey, Area Vice President, Park Place Dealerships; Steve Klipstein, Head of Network for Volvo Southern Region, Volvo
Park Place Dealerships purchased 15 acres in December 2024 and plans to build a state-of-the-art Porsche dealership to be completed in 2027 as well as construct a Volvo service center adjacent to the existing Volvo dealership.
“We believe that these projects allow us to elevate the experience for both Porsche and Volvo clients in a meaningful way,” shared David Hult, President and Chief Executive Officer of Asbury. “The new Porsche dealership is expected to be one of the premier Porsche dealerships in the country, with the ability to serve clients at the highest level. At the same time, bringing the Volvo service center onto the property adds a level of convenience our clients truly value, creating a more seamless, efficient experience from the moment a client arrives onsite.”
The Volvo dealership has been under renovation for the past eight months and is expected to be completed in early 2027. The expanded sales facility will feature a new exterior and interior with a sleek new showroom and a client lounge that will be the living room of the dealership that offers a relaxing, modern space with comfortable seating, a self-serve coffee bar, and room for conversations with Park Place sales and service advisors.
A new service facility will be added onsite for the Volvo dealership, to handle service for all Volvo models.
Park Place Porsche plans to move from its existing dealership on Lemmon Avenue across the street to 6000 Lemmon Avenue next year.
About Park Place Dealerships
Park Place Dealerships was founded in 1987 and employs more than 1,400 members. Park Place Dealership operates three collision centers, an auto auction, and nine full-service dealerships representing luxury brands including Lexus, Mercedes-Benz, Porsche, Volvo, Land Rover, Acura, and Sprinter Vans. Park Place is a part of Asbury Automotive Group, Inc., a Fortune 500 company headquartered in Atlanta, GA. Asbury is one of the largest automotive retailers in the U.S. For more information, visit parkplace.com.
About Asbury Automotive Group, Inc.
Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Atlanta, Georgia, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury’s constant North Star. As of December 31, 2025, Asbury operated 171 new vehicle dealerships, consisting of 223 franchises and representing 36 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 39 collision repair centers. Asbury offers an extensive 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 products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America’s Fastest Growing Companies 2024 by the Financial Times, one of the World’s Most Trustworthy Companies 2024 and 2025 by Newsweek, and one of America’s Most Successful Small-Cap Companies by Forbes for 2026.
For additional information, visit www.asburyauto.com.
Forward-Looking Statements
This press release contains ‘forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions regarding the successful completion of the major renovations and new facilities, the Park Place Porsche relocation, and the expected benefits of the enhancements and buildings.
The following are some but not all of the factors that could cause actual results or events to differ materially from those anticipated, including: risks related to permitting and construction delays; our failure to realize the benefits expected from the renovations and new facilities and anticipate our guest’s expectations of tomorrow; disruption of ongoing business operations due to the construction activities; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2025 and subsequent filings.
These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260213415239/en/
Media Contact:
Morgan Irwin
Head of Corporate Communications
mirwin@asburyauto.com
678-537-6593
Original: Park Place Dealerships Breaks Ground on New Porsche Dealership and Expanded Volvo Store
US Market News
4月前
Asbury Automotive Group Appoints New Director to Its BoardFebruary 4, 2026 4:30 PM
Business Wire
Asbury appoints Christopher DiSantis to its Board of Directors effective March 1, 2026
Philip Maritz notifies Board that he will not stand for re-election at the 2026 Annual Meeting
Asbury Automotive Group, Inc. (NYSE: ABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., announced the appointment of Christopher DiSantis to its Board of Directors effective March 1, 2026. The Board has appointed Mr. DiSantis to the Audit Committee and the Compensation & Human Resources Committee, also effective March 1, 2026. Mr. DiSantis’s appointment brings the total number of directors to eleven, ten of whom are independent, including Mr. DiSantis. The Company also announced that long-time Board member Philip Maritz has notified the Board that he is not standing for re-election, and his term will end, at the Company’s 2026 Annual Meeting of Stockholders.
“We are thrilled to welcome Chris to the Board and we are fortunate to have him,” said Board Chair Tom Reddin. “Chris has demonstrated a consistent track record of creating value through both operational excellence and transformative growth strategies, operating in various industries including the automotive parts supply sector. We expect Chris to provide valuable strategic insights related to Company planning and operations.”
“Chris brings an added dimension,” said David Hult, Asbury’s President and Chief Executive Officer. “His value-creation experience demonstrated through repeated scaling, transformation, and performance improvement across complex operating environments will make us a stronger organization.”
Mr. DiSantis is a Partner at American Securities, a private equity firm he joined in 2019. He is a member of the Operating Committee and leads the Resources Group, which assists their portfolio companies in value creation and the implementation of their strategic agendas. During his time at American Securities, Mr. DiSantis has also served in interim leadership roles for several of their companies. Before joining American Securities, Mr. DiSantis served as CEO of Verso Corporation, a North American producer of paper, packaging, and pulp. Prior to Verso, Mr. DiSantis served as CEO of H-D Advanced Manufacturing, a diversified motion-control technology enterprise serving the aerospace and industrial markets; CEO of Latrobe Specialty Metals, Inc., a manufacturer of premium alloys; and President of Hawk Corporation, which designed, manufactured, and distributed precision-engineered components.
Mr. Maritz’s departure marks the end of an era. Among other endeavors, Mr. Maritz is a co-founder and President of Maritz, Wolff & Co., which manages the Hotel Equity Fund, a private equity investment fund that invests in luxury hotels and resorts; the founder and President of Maritz Properties, a commercial real estate development and investment firm; and the Managing Director of Broadreach Capital Partners, a private equity real estate investment fund and a member of the Council on Foreign Relations. Mr. Maritz was appointed to the Board in April 2002 shortly after Asbury became a publicly-held company. During his tenure on the Board, Mr. Maritz served as Chair of the Audit Committee, Chair of the Risk Management Committee, and Chair of the Governance & Nominating Committee. He currently serves as a member of the Capital Allocation & Risk Management Committee, the Governance & Nominating Committee, and the Executive Committee.
“Philip has been instrumental in helping to guide Asbury from its Initial Public Offering to $18 billion in revenue, a Fortune 500 company operating at over 170 dealership locations in 15 states, and which has been recognized by Forbes as one of America’s Most Successful Small-Cap Companies and by Newsweek as one of the World’s Most Trustworthy Companies,” said Mr. Hult.
“Philip’s contributions to Asbury during his tenure on the Board are a testament to his deep experience and sound judgment,” said Mr. Reddin. “Over the course of his almost 24 years as a Board member, Philip provided a rare blend of leadership, strategic insights and rigorous analytical inquiries, especially during pivotal moments in the Company’s history. The Board and the management team are deeply grateful for Philip’s many years of dedicated service and the lasting contributions he has made to Asbury’s success. He is our friend and he will be missed.”
“I am proud of what the Board has accomplished over the last two decades, and thankful to have been a part of that equation,” said Mr. Maritz. “I have every confidence that Asbury’s Board and management team are well-positioned to continue the Company’s mission to be the nation’s most-guest-centric automotive retailer. I wish my friends and colleagues at Asbury continued success.”
About Asbury Automotive Group, Inc.
Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Atlanta, Georgia, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury’s constant North Star. As of December 31, 2025, Asbury operated 171 new vehicle dealerships, consisting of 223 franchises and representing 36 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Asbury, a leading provider of service contracts and other vehicle protection products, and 39 collision repair centers. Asbury offers an extensive 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 products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America’s Fastest Growing Companies 2024 by the Financial Times, one of the World’s Most Trustworthy Companies 2024 and 2025 by Newsweek, and one of America’s Most Successful Small-Cap Companies by Forbes for 2026.
For additional information, visit www.asburyauto.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact. These statements are based on management's current expectations and beliefs and involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied in our forward-looking statements, which risk factors are set forth in Asbury's filings with the U.S. Securities and Exchange Commission from time to time, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260204216001/en/
Investors & Reporters May Contact:
Joe Sorice
Sr. Manager, Investor Relations
(770) 418-8211
ir@asburyauto.com
Original: Asbury Automotive Group Appoints New Director to Its Board
Penny Roger$
14年前
Asbury Automotive Group, Inc. (Asbury) is an automotive retailers in the United States. As of December 31, 2010, the Company’s was operating 110 franchises (84 dealership locations). It offers a range of automotive products and services, including new and used vehicles; vehicle maintenance; replacement parts and collision repair services; new and used vehicle financing, and aftermarket products, such as insurance, warranty and service contracts. As of December 31, 2010, it operated dealerships in 20 metropolitan markets throughout the United States. As of December 31, 2010, its retail network consists of eight locally-branded dealership groups. As of December 31, 2010, its brand names included Nalley Automotive Group and Courtesy Autogroup. In March 2011, the Company completed the sale of its International, Hino, Isuzu, UD, IC Bus and Workhorse franchises to Rush Truck Centers of Georgia, Inc. On May 2, 2011, the Company sold its luxury brand dealership in California.
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