Rush Acquires Assets of Asbury Automotive Atlanta
Mar 16, 2011 2:27 PM
Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), which operates the largest network of commercial vehicle dealerships in North America, announced that its subsidiary, Rush Truck Centers of Georgia, Inc. has acquired certain assets of Asbury Automotive Atlanta L.L.C., a subsidiary of Asbury Automotive Group, Inc. (NYSE:ABG), which operates commercial truck and bus dealerships in the greater Atlanta, Georgia, area under the "Nalley Motor Trucks" name.
The acquisition includes the International, Hino, Isuzu, UD, IC Bus and Workhorse franchises in Atlanta, dealership locations in Atlanta and Doraville and a collision center in Atlanta.
The acquisition expands the company's contiguous network of Rush Truck Centers in the southeast and results in the company operating 65 Rush Truck Center locations in 14 states. In addition, Rush will expand its existing truck center in Smyrna, Georgia, which currently sells Hino, UD and Isuzu trucks, to include International heavy- and medium-duty trucks and buses manufactured by IC Bus. The four locations in Atlanta will operate as part of the Company's Navistar Division.
"We are pleased to support customers in the Atlanta market with International, Hino, Isuzu, UD, IC Bus and Workhorse brands and grow our Navistar Division to 15 full service dealerships," said W. M. "Rusty" Rush, President and CEO of Rush Enterprises, Inc. "Our Navistar Division represents not only incremental truck sales for Rush, but also increased parts and service revenues from a market share leader. We will continue to work with Navistar to look for future opportunities to grow together."
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