Herb Chambers Companies, which employs 2,200 people in Massachusetts and Rhode Island, is being sold for $1.34 billion to Asbury Automotive Group out of Georgia.
The deal includes Chambers' 33 dealerships, 52 franchises and three collision centers. Founded in 1985, the company is one of the region's largest auto dealers, selling new and used vehicles.
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“We’re excited to bring Asbury and the Herb Chambers team together. Herb is an icon in Boston, and he has built a world class organization, with a strong reputation for serving his guests and being highly engaged in the communities,” David Hult, Asbury’s president and CEO, said in a statement. “HCC is a respected brand with a rich history and reputation for having a customer and team member-focused culture, aligning directly with Asbury’s North Star to become the most guest-centric automotive retailer.”
“As I look back on the last 40 years in business, I do so with immense pride, and as I look forward, I will do so with great satisfaction knowing what we built together will be in trusted hands,” added Herb Chambers, principal of the Herb Chambers Companies. “David Hult and the Asbury Automotive Group share our customer-focused philosophy which will remain as the foundation from which they move our great company into the future.”
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Chambers will serve as a special advisor to Asbury and will retain ownership of his Mercedes-Benz of Boston dealership located in Somerville.
The deal, which the companies called "one of the most sizable in U.S. auto retail history," is expected to close sometime in the second quarter of 2025.
