Asbury agrees to buy Herb Chambers dealership group for $1.34 billion
Asbury Automotive Group agreed on February 14, 2025 to acquire substantially all assets of The Herb Chambers Companies for about $1.34 billion, covering 33 dealerships, 52 franchises and three collision centers in Massachusetts and Rhode Island. The company said the deal is expected to close late in the second quarter of 2025, subject to manufacturer approvals, regulatory clearances and other customary conditions, and that it will be funded with credit facility capacity, mortgage proceeds and cash. The size of the purchase is large relative to the deals described in the filing, and closing is not assured until those conditions are met.
Key points
- Purchase price is about $1.34 billion, including $750 million for goodwill and about $590 million for real estate and improvements
- The acquired businesses include 33 dealerships, 52 franchises and three collision centers; the seller retains the Mercedes-Benz of Boston dealership
- Closing requires manufacturer approvals and Hart-Scott-Rodino waiting period expiration, and is expected late in the second quarter of 2025
- Asbury will deliver $10 million in earnest money; the seller may owe a $100 million termination fee in some circumstances
The filing
Written by AI on Nov 8, 2026, 1:39 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 18, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.