Asbury Automotive Group, one of the top U.S. automotive retail companies, has finalized its acquisition of The Herb Chambers Companies, the 16th-largest privately-owned dealership group in the country. The $1.45 billion transaction includes 33 dealerships, 52 franchises, and three collision centers, expanding Asbury’s presence into the Northeastern United States, a region it previously did not operate in.
The Herb Chambers Companies (HCC) generated $3.2 billion in revenue in 2024 and sold approximately 50,000 new and used vehicles. The acquisition includes $750 million in goodwill, $610 million in real estate, and $85 million in vehicle and parts inventory. Asbury financed the deal using a mix of credit, mortgages, and cash.
Company leaders emphasized shared values, with Asbury President & CEO David Hult praising HCC’s customer-centric culture, and Herb Chambers endorsing Asbury as “the ideal steward” of the brand’s legacy. The acquisition not only expands Asbury’s geographic footprint but also enhances its competitive position through increased scale and enhanced service capacity.
Here’s why it matters:
This transaction signals continued consolidation in the retail auto sector, with large groups expanding into new markets to gain volume, geographic diversity, and operational synergies. The move also sets a benchmark for dealership valuations and reinforces the Northeast as a highly competitive, high-volume retail market.
Key takeaways:
- Major consolidation move
Asbury’s $1.45 billion acquisition of HCC marks one of the largest dealership group purchases in U.S. history, signaling continued consolidation in the industry. - Geographic expansion
The deal brings Asbury into the Northeastern U.S. for the first time, diversifying its footprint and elevating competition in that region. - Revenue and volume scale
The acquired group generated $3.2 billion in revenue and sold 50,000 vehicles in 2024, reinforcing Asbury’s standing among the nation’s largest auto retailers. - Dealer valuation benchmark
With $750 million attributed to goodwill and $610 million to real estate, the deal offers a key data point on the value of large, well-performing dealership groups. - Customer experience emphasis
Both leaders highlighted a shared focus on guest service and community presence, showing that even in large-scale mergers, brand identity and customer loyalty remain core assets.
