Herb Chambers Corporations, which employs 2,200 folks in Massachusetts and Rhode Island, is being sold for $1.34 billion to Asbury Automotive Group out of Georgia.
The deal consists of Chambers’ 33 dealerships, 52 franchises and three collision facilities. Based in 1985, the corporate is without doubt one of the area’s largest auto sellers, promoting new and used automobiles.
“We’re excited to deliver Asbury and the Herb Chambers workforce collectively. Herb is an icon in Boston, and he has constructed a world class group, with a powerful fame for serving his company and being extremely engaged within the communities,” David Hult, Asbury’s president and CEO, stated in an announcement. “HCC is a revered model with a wealthy historical past and fame for having a buyer and workforce member-focused tradition, aligning immediately with Asbury’s North Star to turn out to be essentially the most guest-centric automotive retailer.”
“As I look again on the final 40 years in enterprise, I achieve this with immense pleasure, and as I look ahead, I’ll achieve this with nice satisfaction understanding what we constructed collectively will probably be in trusted palms,” added Herb Chambers, principal of the Herb Chambers Corporations. “David Hult and the Asbury Automotive Group share our customer-focused philosophy which can stay as the muse from which they transfer our nice firm into the longer term.”
Chambers will function a particular advisor to Asbury and can retain possession of his Mercedes-Benz of Boston dealership positioned in Somerville.
The deal, which the businesses referred to as “one of the sizable in U.S. auto retail historical past,” is anticipated to shut someday within the second quarter of 2025.
