One of the most active sellers in last year’s dealership M&A market is back at it in 2026.

Asbury Automotive Group has parted with its six Plaza Motors dealerships and a collision center in the St. Louis market, a deal announced by the Presidio Group, which represented Asbury.

The sale to MileOne Autogroup included Plaza Mercedes-Benz, Mercedes‑Benz of Chesterfield, Plaza BMW, Land Rover St. Louis, Audi Creve Coeur, Plaza Infiniti and Plaza Collision Center and their related real estate.

MileOne will retain the Plaza name for the businesses.

In 2025, Asbury sold nine of its dealerships, all of which were among the 61 added when it acquired Larry H. Miller Dealerships in 2021. Seven of those stores were in Utah, and the others were in California, marking Asbury’s exit from the state.

Even so, Asbury’s dealership holdings grew significantly with the July acquisition of The Herb Chambers Companies, which brought 33 locations in Massachusetts and Rhode Island into the fold.

Presidio said Asbury’s decision to sell the Plaza locations “reflects a broader portfolio management initiative” following that growth.

“When we made the strategic decision to exit the St. Louis market, it was not a decision made lightly,” Asbury president and CEO David Hult said. “We are confident that MileOne will be an outstanding steward of the Plaza platform for our team members, partners and guests.”

For MileOne, the acquisition represented an opportunity to enter a new region with immediate scale and a mix of luxury brands.

“Acquisitions with the kind of scale, brand mix and reputation Plaza Motors offers are extremely rare,” CEO Steve Fader said. “This transaction aligns perfectly with MileOne’s strategy of expanding our footprint with leading luxury brands in attractive markets, and we are honored to carry forward the Plaza name.”

Asbury now operates 161 new-vehicle dealership locations in 12 states, as well as F&I provider Total Care Auto and 38 collision repair centers.

Presidio president George Karolis called the Plaza Motors sale “a textbook example of portfolio management in action,” illustrating a broader trend in the U.S. dealership market, with large dealership groups re-evaluating their portfolio and shedding stores that don’t fit into their long-term plans so they can redeploy their capital elsewhere.