Asbury Automotive to acquire Herb Chambers Companies for $1.34B

ASBURY AUTOMOTIVE GROUP INC

Purchase price $1.34B, including $750M goodwill and ~$590M real estate; no financing condition.
Acquisition covers 33 dealerships, 52 franchises, and 3 collision centers in Massachusetts and Rhode Island.
HCC generated $2.9B revenue in 2024; transaction expected to close late Q2 2025.
Herb Chambers will become Special Advisor to Asbury and retain Mercedes-Benz of Boston.
Termination fee of $100M payable by HCC under certain circumstances; earnest money $10M.

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