Herb Chambers Cadillac of Lynnfield will have a new owner after a $1.34 billion purchase by the Georgia-based Asbury Automotive Group.
The Lynnfield location is among 33 dealerships, 52 franchises, and three collision centers transferred in what is one of the largest sales in U.S. auto retail history. The sale represents $2.9 billion in revenue in 2024, according to a statement from Asbury.
“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,” said David Hult, Asbury’s President & CEO. “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.”
Herb Chambers, principal owner of the Herb Chamber companies, will remain as a special advisor to Asbury and will retain ownership of Mercedes-Benz of Boston in Somerville.
Dick Dalton, chair of the Lynnfield Select Board, told the Lynnfield Weekly News that he views this transaction with Asbury, a quality company, as a benefit for the town.
“I’m happy for the caliber of buy-in that stepped up,” he said. “Being bought by a Fortune 500 company, I think bodes well for the location.”
Located on Broadway, Herb Chambers Cadillac of Lynnfield played an important role in meeting the MBTA Zoning Act compliance late last year, with the business contributing one of the parcels for a multi-family housing district.
One reason for this is the unlikelihood that the current owners of the land will decide to build a housing complex in the district with the car dealership already in place.
“[Asbury’s] not in the real estate business. In my mind, it has no impact on the business there with respect to the MBTA zoning community law,” Dalton said. “I think it proves once again the highest and best use for the property is as a dealership and will continue to be that.”
