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Asbury buys Colo. dealership group Stevinson

Asbury Automotive added eight dealerships in the Denver area and $715 million in annual revenue by closing on the purchase of Stevinson Automotive.

Asbury Automotive Group Inc. has added eight dealerships in the Denver area and $715 million in annual revenue by closing on the purchase of Stevinson Automotive.

The nation's sixth-largest new-vehicle retailer said it spent about $300 million for the dealership goodwill — the blue sky, or intangible value of the stores — plus $77 million for real estate and leasehold interests, according to a regulatory filing. The purchase price excludes vehicle inventory, parts inventory and fixed assets.

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