New England auto giant Herb Chambers Companies has been acquired by the publicly traded Asbury Automotive Group in a $1.34 billion blockbuster deal.

Herb Chambers, a Dorchester native and major Boston-area philanthropist, will stay on after the merger in the post of Special Advisor to Asbury. Chambers will retain ownership of Mercedes-Benz of Boston in Somerville.

“As I look back on the last 40 years in business, I do so with immense pride, and as I look forward, I will do so with great satisfaction knowing what we built together will be in trusted hands,” said  Chambers in a release announcing the sale.

The deal for Herb Chambers Companies, which booked $2.9 billion in revenue in 2024, includes 33 dealerships, 52 franchises, and three collision centers.

“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.”

— Developing