Asbury Automotive Group, one of the largest automotive retail and service companies in the U.S., 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 U.S. auto retail history. It included 33 dealerships, 52 franchises, and three collision centers and represented $2.9 billion in revenue in 2024. The deal is subject to customary closing conditions and is expected to close late in the second quarter of 2025. And Asbury plans to fund the $1.34 billion purchase price with 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.