DULUTH, Ga., May 7, 2015 /PRNewswire/ -- Asbury Automotive
Group, Inc. (NYSE: ABG), one of the largest automotive retail and
service companies in the U.S., is pleased to announce that it is
expanding in the Atlanta market.
Asbury has acquired Capitol City Nissan which generates
approximately $70 million in revenues
annually. The new dealership will be rebranded Nalley Nissan
Atlanta and brings the number of Asbury stores in Georgia to 17.
The newly acquired store is located near I-285 at 5211 Peachtree
Industrial Blvd. in Chamblee,
GA. For years, the Nissan store has provided quality
sales and service to customers in the Perimeter area with a quality
selection of new and pre-owned vehicles. We are pleased with
the new opportunities of this dealership and are dedicated to
continuing to provide high quality service and sales.
"We are very excited to add another Nissan store to better serve
our Atlanta customers and are
pleased to expand our suite of Nalley stores. We welcome our
new employees to the Asbury family and are looking forward to our
opportunities in the Perimeter area," said David Hult, Executive Vice President and Chief
Operating Officer of Asbury Automotive Group.
About Asbury Automotive Group
Asbury Automotive Group,
Inc. ("Asbury"), a Fortune 500 company headquartered in
Georgia, is one of the largest automotive retailers in the
U.S. Asbury operates 84 dealerships, composed of 105 franchises for
the sale and servicing of 29 domestic and foreign brands of
vehicles. Asbury also operates 25 collision repair centers
and three stand-alone used vehicle stores. Asbury offers
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.
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, market conditions and
projections regarding Asbury's financial position, liquidity,
results of operations, market position and dealership portfolio,
the benefits of its restructuring program and other initiatives and
future business strategy. These statements are based on
management's current expectations and beliefs and involve
significant risks and uncertainties that may cause results to
differ materially from those set forth in the statements.
These risks and uncertainties include, among other things, market
factors, Asbury's relationships with, and the financial and
operational stability of, vehicle manufacturers and other
suppliers, acts of God or other incidents which may adversely
impact supply from vehicle manufacturers and/or present retail
sales challenges, risks associated with Asbury's indebtedness
(including available borrowing capacity, compliance with its
financial covenants and ability to refinance or repay such
indebtedness, particularly upcoming maturities, on favorable
terms), Asbury's relationships with, and the financial stability
of, its lenders and lessors, risks related to competition in the
automotive retail and service industries, general economic
conditions both nationally and locally, governmental regulations,
legislation, adverse results in litigation and other proceedings,
and Asbury's ability to execute its IT initiatives and other
operational strategies, Asbury's ability to leverage gains from its
dealership portfolio, Asbury's ability to capitalize on
opportunities to repurchase its debt and equity securities or
purchase properties that it currently leases, and Asbury's ability
to stay within its targeted range for capital expenditures.
There can be no guarantees that Asbury's plans for future
operations will be successfully implemented or that they will prove
to be commercially successful.
These and other risk factors that could cause actual results to
differ materially from those expressed or implied in our
forward-looking statements are and will be discussed in Asbury's
filings with the 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. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/asbury-automotive-group-inc-acquires-new-nissan-store-in-atlanta-300079953.html
SOURCE Asbury Automotive Group, Inc.