Driving the news: Asbury Automotive Group sold three dealerships to RBM of Atlanta in a February 23 deal, the same day it sold six Missouri stores to MileOne Autogroup, exiting the St. Louis market.
The public retailer also sold a Stellantis store to Matt Bowers Auto Group on February 3.
For context: Asbury’s divestitures this month are in line with its portfolio management plans following the $1.45 billion acquisition of The Herb Chambers Cos. in July 2025.
The ten dealerships sold this month earned about $610 million in annual revenue, according to a company press release.
Asbury said it received about $210 million in net proceeds from the three transactions.
The Presidio Group advised Asbury in both February 23 deals.
New markets: Buyer RBM of Atlanta expands into a new market with the acquisition of Porsche of Greenville, Land Rover Greenville, and Crown Nissan of Greenville, all in South Carolina.
RBM also owns five dealerships in metro Atlanta.
Asbury retained its Toyota dealership in Greenville.
Omega Advisors represented the buyers.
What they’re saying: “The Greenville market, so close to our home base, ideally complements our existing operations, as do the brands we are adding,” David Ellis, president of RBM of Atlanta, said in a statement.
Bottom line: The South Carolina transaction underscores ongoing buy-sell trends, including disciplined portfolio management and an ongoing demand for luxury dealerships, according to Presidio.
You can see this deal announcement and many more throughout the entire year, by visiting the CDG Buy/Sell tracker at CDGbuysell.com powered by:
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