Asbury Automotive Group announced the sale of ten dealerships in Indiana, Missouri, and South Carolina, generating about $210 million in net proceeds after mortgage payoffs and estimated taxes. The divested units included new‑vehicle franchises and collision centers, with an annualized revenue of roughly $610 million.
The transaction is part of the company’s ongoing portfolio‑optimization strategy. In the past year, Asbury has divested multiple stores—including four in Q4 2025 and nine in July 2025—continuing that trend with the current sale.
The company’s board also approved an increase of $424 million to its share‑repurchase authorization, raising the total available for buybacks to $500 million. Prior to the increase, $76 million of the original authorization remained available, and the company had already repurchased $100 million of shares year‑to‑date.
Management said the proceeds will be used to accelerate the reduction of leverage to below 3.0× and to fund additional share repurchases. The move underscores Asbury’s focus on strengthening its balance sheet and returning capital to shareholders.
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