0001144980-15-000072.txt : 20150316 0001144980-15-000072.hdr.sgml : 20150316 20150316064256 ACCESSION NUMBER: 0001144980-15-000072 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150316 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150316 DATE AS OF CHANGE: 20150316 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ASBURY AUTOMOTIVE GROUP INC CENTRAL INDEX KEY: 0001144980 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 010609375 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31262 FILM NUMBER: 15701063 BUSINESS ADDRESS: STREET 1: 2905 PREMIERE PARKWAY NW STREET 2: SUITE 300 CITY: DULUTH STATE: GA ZIP: 30097 BUSINESS PHONE: 770-418-8200 MAIL ADDRESS: STREET 1: 2905 PREMIERE PARKWAY NW STREET 2: SUITE 300 CITY: DULUTH STATE: GA ZIP: 30097 8-K 1 abg8-kmarch162015.htm FORM 8-K ABG 8-K March 16, 2015


 
 
 
 
 
 
 
 
 
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
 
 
FORM 8-K
 
 
 
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 16, 2015
 
 
 
 
Asbury Automotive Group, Inc.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
Delaware
(State or other jurisdiction of incorporation)
 
 
001-31262
 
01-0609375
 
 
(Commission File Number)
 
(IRS Employer Identification No.)
 
 
 
 
 
 
 
2905 Premiere Parkway NW Suite 300
Duluth, GA
 
30097
 
 
(Address of principal executive offices)
 
(Zip Code)
 
 
 
 
 
 
 
(770) 418-8200
(Registrant's telephone number, including area code)
None
(Former name or former address, if changed since last report)
 
 
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))






Item 7.01    Regulation FD Disclosure.

On March 16, 2015, Asbury Automotive Group, Inc. (the “Company”) issued a press release to announce an initiative to hire between 200 and 400 technicians over the next twelve to twenty-four months to meet potential growth opportunities in its parts and service business.  A copy of this press release is being furnished as Exhibit 99.1 to this Report and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.
(d)    Exhibits.
 
The following exhibit is furnished as part of this report.
 
Exhibit No.
  
Description
 
 
 
 
 
99.1
  
Press release dated March 16, 2015.
 





SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
ASBURY AUTOMOTIVE GROUP, INC.
 
 
 
 
Date: March 16, 2015
By:
 
/s/  George A. Villasana
 
Name:
 
George A. Villasana
 
Title:
 
Vice President, General Counsel and Secretary







EXHIBIT INDEX
 
Exhibit No.
  
Description
 
 
99.1
  
Press release dated March 16, 2015.




 EX-99.1 2 ex991march162015pressrelea.htm EXHIBIT 99.1 - PRESS RELEASE EX 99.1 March 16, 2015 Press Release


EXHIBIT 99.1
                            


Asbury Automotive Group, Inc.
Announces Plans to Increase Technician Workforce

DULUTH, Ga., March 16, 2015 /PRNewswire/ -- Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the U.S., is announcing an initiative to hire between 200 and 400 technicians over the next twelve to twenty-four months to meet potential growth opportunities in our parts and service business. We expect to have opportunities to expand both our quick service offerings as well as our traditional service offerings across all of our stores and collision centers to better serve the needs of our customers.
We intend to pursue these candidates through our working partnerships with local technical schools, community colleges, our vehicle manufacturer partners and the Asbury Technical Institute ("ATI"). With the graduation of its first class in September 2014, ATI is an internal training program where eligible technician candidates, including current employees, receive classroom and hands-on training to become qualified technicians. We plan to employ these graduates in our stores in the markets we serve.
We are excited about this initiative and continue to anticipate our parts and service gross profit growth rate percentage to be in the mid-single digits range for 2015.
About Asbury Automotive Group, Inc.
Asbury Automotive Group, Inc. ("Asbury"), a Fortune 500 company headquartered in Duluth, Georgia, a suburb of Atlanta, is one of the largest automotive retailers in the U.S. Built through a combination of organic growth and a series of strategic acquisitions, Asbury currently operates 83 dealership locations, encompassing 104 franchises for the sale and servicing of 29 domestic and foreign brands of new vehicles. We also operate 25 collision repair centers and three standalone used vehicle stores. Asbury offers customers an extensive range of automotive products and services, including new and used vehicle sales and related financing and insurance, vehicle maintenance and repair services, replacement parts and service contracts.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, market conditions and projections regarding Asbury's hiring needs and expectations, financial position, liquidity and results of operations and the scope, nature, timing and expected benefits of its initiative to hire additional technicians. These statements are based on management's current expectations and beliefs and involve significant risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, Asbury’s ability to attract, develop and retain qualified technicians, shortages of qualified technicians in the




industries in which Asbury operates, market factors, including demand for additional parts and service business to keep any additional technicians working at full capacity, Asbury's relationships with, and the financial and operational stability of, vehicle manufacturers and other suppliers, risks related to competition in the automotive retail and service industries, general economic conditions both nationally and locally, Asbury's ability to execute its operational strategies and Asbury's ability to leverage gains from its dealership portfolio. There can be no guarantees that Asbury's plans for future operations, including its initiative to hire additional technicians, will be successfully implemented or that they will prove to be commercially successful.
These and other risk factors that could cause actual results discussed in this press release to differ materially from those expressed or implied in our forward-looking statements are and will be discussed in Asbury's filings with the Securities and Exchange Commission (SEC) from time to time, including its most recent annual report on Form 10-K filed with the SEC on February 24, 2015 and any subsequently filed quarterly reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE Asbury Automotive Group, Inc.

PR Contact:
Kristi Griggs, Asbury Communications Liaison,
336-285-0210 Ext 105, pr@asburyauto.com

Investor Contact:
Matt Pettoni, VP & Treasurer,
770-418-8219, ir@asburyauto.com



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