Asbury Automotive Group Inc · NYSE:ABG
Asbury Automotive — Merger or Acquisition (December 2019)
11 slides from Asbury Automotive's merger presentation, Dec 12, 2019
Slide 1: Acquisition of Park Place Dealerships
Acquisition of Park Place Dealerships December 12, 2019 Exhibit 99.2
Slide 2: Forward-Looking Statements
To the extent that statements in this presentation are not recitations of historical fact, such statements constitute “forward-looking statements" as such term is defined in the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this presentation may include statemen
Slide 3: Asbury Automotive Group: Fortune 500 automotive dealer group
For the year ended Dec. 31, 2018 As of Sep. 30, 2019; brand mix is based on new vehicle revenue HQ Asbury Automotive Group (NYSE: ABG) Fortune 500 automotive dealer group with attractive geographic presence Fortune 500 automotive retailer 7th largest U.S. based franchised auto retailer $6.9 billion
Slide 4: Asbury to Acquire Park Place Dealerships
Asbury to Acquire Park Place Dealerships Asbury announces proposed acquisition of one of the top luxury dealer groups in the U.S. Asbury announces acquisition of Park Place $1.9 billion in annual revenue(1) 10 luxury dealerships and 17 franchises 9 dealerships located in Dallas, TX market 1 open poi
Slide 5: Investment Highlights
Investment Highlights Increases presence in the high-growth, luxury dominant Dallas/Fort Worth/Austin markets Improves brand mix from 33% to 50%(1) luxury; luxury dramatically outperformed in 2008-2009 Expected synergies of at least $20 million with potential upside Includes a Jaguar / Land Rover op
Slide 6: Large, Well Maintained, Award Winning Dealerships
Large, Well Maintained, Award Winning Dealerships Premier real estate portfolio with ideal retail locations valued at $215 million
Slide 7: Attractive Dallas - Fort Worth - Austin Market
Attractive Dallas - Fort Worth - Austin Market (1) Source: Urban Science, Fortune Dallas, home to 23 Fortune 500 companies, is one of the top luxury car markets in the country Economic Forecast 2018 – 2023(1)
Slide 8: Transformational to Asbury's Brand Portfolio
Transformational to Asbury’s Brand Portfolio Further diversifies our brand mix Other Other Luxury Other Asbury(1) Park Place(1) Pro Forma(2) Based on new vehicle revenue for nine months ended Sep. 30, 2019. Pro forma revenue based on Asbury and Park Place new vehicle revenue for LTM ended Sep. 30, 2
Slide 9: Benefits of Luxury Dealerships
Benefits of Luxury Dealerships Shifts brand mix from 33% to 50% luxury; luxury stores are more resilient in downturns, tend to have higher, more stable margins, fewer dealers, and a more favorable mix of parts and service business Based on new vehicle revenue for nine months ended Sep. 30, 2019. (2)
Slide 10: Meaningfully Increases Scale
Meaningfully Increases Scale Substantially grows business to $9 billion in revenue and increases the percentage of gross profit from parts and service to 50% Revenue(1) Parts & Service % of Gross Profit Dealerships Pro Forma 88 $7,100 $9,000 98 48% 50% Note: $ in millions. Pro-forma revenue based on
Slide 11: Transaction Summary
Transaction Summary Consideration Financial Anticipated Closing Synergy Potential & Integration Plan Transaction valued at approximately $1B in an all-cash transaction, excluding vehicles Approximately $30 mm of parts and fixed assets Approximately $215mm real estate portfolio, and $785mm Blue Sky v
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