4 Firms Steer $3.2B Deal For US Car Dealership Operator

By Benjamin Horney (September 29, 2021, 8:53 AM EDT) -- Asbury Automotive Group will buy the eighth-largest car dealership operator in the U.S. from Larry H. Miller Group of Cos. for $3.2 billion, the companies said Wednesday, in a transaction driven by four law firms.

The agreement will see Georgia-based Asbury Automotive Group Inc. pick up Larry H. Miller Dealerships as well as Total Care Auto, Powered by Landcar, or TCA, according to a statement. The former represents the eighth-largest dealer group in the U.S., with 54 new vehicle dealerships, seven used vehicle dealerships and 11 collision centers; the latter provides service contracts and other vehicle protection products. 

Specifically, the acquisition...

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