Home Economy Economic Activity Herb Chambers auto chain sold to Ga.-based Asbury for $1.34B

Herb Chambers auto chain sold to Ga.-based Asbury for $1.34B

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PBN Staff

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02/18/2025

HerbChambers — HERB CHAMBERS Cos. has sold its chain of auto dealerships to Georgia-based Asbury Automotive Group Inc. for $1.34 billion, the company announced Tuesday.

PROVIDENCE – Herb Chambers Cos. has sold its chain of auto dealerships to Georgia-based Asbury Automotive Group Inc. for $1.34 billion, the company announced Tuesday. The sale includes Herb Chambers’ flagship of 33 dealerships, two of which are located in Warwick and Seekonk, 52 franchises and three collision centers. Asbury plans to fund the $1.34

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PROVIDENCE – Herb Chambers Cos. has sold its chain of auto dealerships to Georgia-based Asbury Automotive Group Inc. for $1.34 billion, the company announced Tuesday. The sale includes Herb Chambers' flagship of 33 dealerships, two of which are located in Warwick and Seekonk, 52 franchises and three collision centers. Asbury plans to fund the $1.34 billion purchase price with a combination of credit facility capacity, mortgage proceeds and cash. Herb Chambers, principal of the Herb Chambers Cos., has agreed to serve as special adviser to Asbury and will retain ownership of Mercedes-Benz of Boston in Somerville, Mass. “As I look back on the last 40 years in business, I do so with immense pride, and as I look forward, I will do so with great satisfaction knowing what we built together will be in trusted hands,” said Herb Chambers. “David Hult and the Asbury Automotive Group share our customer-focused philosophy, which will remain as the foundation from which they move our great company into the future.” The sale is expected to close late in the second quarter of 2025. “We’re excited to bring Asbury and the Herb Chambers team together. Herb is an icon in Boston, and he has built a world-class organization, with a strong reputation for serving his guests and being highly engaged in the communities,” said Hult, Asbury’s CEO and president. “HCC is a respected brand with a rich history and reputation for having a customer and team member-focused culture, aligning directly with Asbury’s North Star to become the most guest-centric automotive retailer.” Asbury Automotive Group operates 152 new-vehicle dealerships, consisting of 198 franchises and representing 31 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Landcar, a leading provider of service contracts and other vehicle-protection products, and 37 collision repair centers.