Asbury Automotive Group announced an agreement to acquire The Herb Chambers Companies for $1.34 billion. This acquisition is expected to close in the late second quarter of 2025, subject to customary conditions.
The transaction includes Herb Chambers' 33 dealerships, 52 franchises, and three collision centers, which generated $2.9 billion in revenue in 2024. Asbury plans to fund the acquisition using a combination of credit facility capacity, mortgage proceeds, and cash.
This strategic move will significantly expand Asbury's presence in the Northeastern United States, diversifying its geographic mix. The acquisition is anticipated to capitalize on stronger demand for modern vehicles and after-sales services, enhancing Asbury's overall market position.
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