Asbury Automotive Group, an automotive retailer and service company, completed the acquisition of Park Place Dealerships, a luxury car dealership, for $1bn. "Park Place remains one of the best operators of luxury stores in the industry. Their portfolio of stores comes with a strong base of loyal clients and long-term team members throughout the high growth Dallas/Fort Worth market. We are thankful to both the Asbury and Park Place employees who have worked tirelessly over the last few weeks to complete this transaction. The talent in both organizations and the resilience of the dealer model have put us in a position to become a stronger and more diversified company. I am pleased to welcome all our new teammates at Park Place," David Hult, Asbury President and CEO.