Asbury Automotive Group announced the completion of its acquisition of The Herb Chambers Companies on July 21, 2025. This transaction represents one of the most sizable in U.S. automotive retail history.
The aggregate net purchase price for the acquisition was $1.45 billion. This includes $750 million for goodwill, approximately $610 million for real estate and leasehold improvements, and approximately $85 million for other assets, net of $375 million in non-manufacturer floorplan.
The acquisition adds 33 new vehicle dealerships, 52 new vehicle franchises, and three collision centers to Asbury's portfolio. These assets generated $3.2 billion in revenue in 2024 and significantly expand Asbury's presence in the Northeastern United States, further diversifying its geographic mix.
Asbury primarily funded the acquisition using a combination of credit facility capacity, mortgage proceeds, and cash. This strategic move is expected to generate significant value for shareholders and enhance Asbury's leading market share in Massachusetts.
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