Autosports Group buys 10 Barry Bourke Motors dealerships

Autosports Group (ASX:ASG) has finalised the acquisition of ten Barry Bourke Motors dealerships in Victoria through its wholly owned subsidiary, Autosports Castle Hill.

The deal includes dealerships representing Audi, Volvo Cars, Jaguar Land Rover, Geely, GMSV, LDV, Peugeot, Renault, and Suzuki in Berwick, as well as Jaguar Land Rover in Doncaster.

The total purchase consideration amounted to approximately $32.8 million, with $29 million allocated to goodwill and $3.8 million to net tangible assets, plant, and equipment.

Of this, $14 million was settled through ASG shares issued at $4.50 each, while the cash portion was financed via existing debt facilities.