Asbury Makes Another Acquisition

By Staff Writer December 08, 2021

Asbury Automotive Group, one of the largest automotive retail and service companies in the U.S., has completed the acquisition of Stevinson Automotive and added approximately $715 million in annual revenues.

“We are thrilled to add to our growing footprint in the dynamic and growing Denver area, especially through a well-respected and successful dealership group like Stevinson,” said David Hult, Asbury’s president and chief executive officer. “Many of Stevinson’s award-winning dealerships are ranked as some of the best in the country, but what makes this group special are its people and the culture they have built over its 60-year history. Stevinson’s 600-plus team members are talented professionals who are dedicated to the guest experience and aligned with our North Star of being the most guest-centric automotive retail company.”

“I look forward to David and his exceptional team continuing the Stevinson legacy for another 60 years,” said Kent Stevinson, owner of Stevinson Automotive.   

Stevinson owns and operates a portfolio of award-winning dealerships with a strong share of leading brands in the Denver market.

Stevinson has a mix of dealerships with revenue comprised of 48% Toyota, 27% Lexus, 10% Porsche, 8% Chevrolet, 4% Hyundai, and 3% Jaguar.

The operating assets to be acquired include eight new vehicle franchises, all of which are located in the Denver market.

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Last modified on Wednesday, 08 December 2021 02:44