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Asbury Automotive Southern California LLC history
Asbury Automotive Southern California LLC company history timeline
McDavid Auto, which was officially renamed Asbury Automotive of Texas Ltd. after the acquisition, had been formed in Houston in 1936 and had been family-owned for three generations.
It was the first IPO from a brick-and-mortar car dealership since 1998.
Profits of $28 million were more than nine times the $3 million the company netted in 1999.
Asbury also acquired Kelly Pontiac-GMC of Jacksonville, Florida, in late 2001; it became part of the Coggin Automotive Group.
Asbury posted net income of $43.8 million on revenues of $4.3 billion in 2001.
Kenneth B. Gilman, former chief operating officer at The Limited Inc., became Asbury's president and CEO in January 2002.
Asbury sold 96,000 new vehicles in 2002 for revenues of $4.5 billion.
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Asbury Automotive Southern California LLC may also be known as or be related to Asbury Automotive Southern California, Asbury Automotive Southern California L.L.C. and Asbury Automotive Southern California LLC.