Herb Chambers Companies to be Acquired by Asbury Automotive Group for $1.34B

Herb Chambers Companies to be Acquired by Asbury Automotive Group for $1.34B

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On February 18, 2025, Asbury Automotive Group, Inc. (NYSE: ABG), one of the largest automotive retail and service companies in the US, signed a definitive agreement to acquire various automotive dealerships owned by The Herb Chambers Companies (HCC), the fourteenth largest by revenue privately-owned dealership group in the country. The sale of this flagship New England Region company is one of the most sizable in US auto retail history, representing $2.9 billion in revenue in 2024, and includes 33 dealerships, 52 franchises, and three collision centers. The transaction is subject to customary closing conditions and is expected to close late in the second quarter of 2025. 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 Companies, has agreed to assume the post of Special Advisor to Asbury and will retain ownership of Mercedes-Benz of Boston in Somerville, Massachusetts.

The WilmerHale team advising HCC was led by Joe Conahan and Andy Alin, and included Judd Abramson, Sarah Matchett, Wei Xiao, Whitley Horning, Doug Burton, Brett Jackson, Robyn Casper, Armen Grigorian, Paula Hobson Mercer, David Gold, Chaz Kelsh, Kate Thoreson, Jordan Brown, Bill Caporizzo, Meghan Walsh, Simona Altshuler, Scott Kilgore, Jeff Johnson, Chalyse Robinson, Kirk Nahra, Ali Jessani, Hartmut Schneider, Sarah Pugh and Carla Gilbertson. 

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