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Asbury ( (ABG) ) has issued an announcement.
On February 14, 2025, Asbury Automotive Group, Inc. agreed to acquire the Herb Chambers automotive group for approximately $1.34 billion. The acquisition, which includes 33 dealerships, 52 franchises, and three collision centers, represents one of the largest transactions in U.S. auto retail history. The transaction, expected to close in late Q2 2025, aims to expand Asbury’s footprint in the New England region, aligning with their guest-centric retail strategy. Herb Chambers will retain ownership of the Mercedes-Benz dealership in Somerville, Massachusetts, and transition to a Special Advisor role at Asbury.
More about Asbury
Asbury Automotive Group, Inc., headquartered in Duluth, GA, is one of the largest automotive retailers in the U.S. and a Fortune 500 company. As of December 31, 2024, it operated 152 new vehicle dealerships representing 31 domestic and foreign brands, along with 37 collision repair centers. Asbury offers a wide range of automotive products and services, including vehicle sales, repair and maintenance services, and finance and insurance products. The company is known for its strategic growth plan and guest-centric approach.
YTD Price Performance: 28.32%
Average Trading Volume: 186,152
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $5.94B
For a thorough assessment of ABG stock, go to TipRanks’ Stock Analysis page.
