In a high-stakes power move within the automotive retail industry, Asbury Automotive Group Inc. has announced its acquisition of The Herb Chambers Cos. in a staggering $1.34 billion deal, expanding its footprint across New England.
What the Deal Includes: A Retail Giant Expands
Asbury’s latest acquisition brings 33 dealerships, 52 franchises, and three collision centers under its umbrella, marking one of the most significant dealership buyouts in recent history. The purchase will further solidify Asbury’s standing as a dominant force in the automotive sector.
To navigate the complexities of the deal, Jones Day and Hill Ward Henderson represented Asbury, while WilmerHale advised The Herb Chambers Cos.
Founded in 1985, The Herb Chambers Cos. has built an empire in automotive retail, operating over 2,200 employees across Massachusetts and Rhode Island. With most of its dealerships clustered around Boston, the company has long been a titan in New England’s car sales market.
Herb Chambers Stays On in Advisory Role
Despite the sale, Herb Chambers, the company’s namesake and principal, will remain in the fold—but in a different capacity. Chambers will become a special adviser to Asbury while retaining ownership of Mercedes-Benz of Boston in Somerville, Massachusetts.
“As I look back on the last 40 years in business, I do so with immense pride,” said Herb Chambers. “As I look forward, I will do so with great satisfaction knowing what we built together will be in trusted hands.”
