Asbury in discussions to buy Jim Koons group

The Koons group carries Buick, Chevrolet, Chrysler, Dodge, Ford, GMC, Hyundai, Jeep, Kia, Lexus, Mercedes, Ram, Toyota and Volvo franchises and has rooftops in Delaware, Maryland and Virginia.

Chin, in an investor note, called the Koons group “a large, well-run group of stores” that would boost Asbury’s revenue by 20 percent.

“The Koons footprint also complements [Asbury’s] nicely,” he said, noting that Asbury has just four Virginia stores.