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[8-K] Asbury Automotive Group, Inc. Reports Material Event

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(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Asbury Automotive Group (ABG) reported on Form 8-K that on 21 Jul 2025 it closed the $1.45 billion purchase of The Herb Chambers Companies, adding 33 dealerships, 52 franchises and three collision centres to its platform.

The acquisition was financed by: (1) a new $546.5 million, 10-year real-estate term loan with Wells Fargo and other lenders (SOFR + 2% or Base Rate + 1%, 118 monthly amortisation payments of $2.28 million starting 1 Sep 2025, balloon at maturity, secured by first-priority property liens, subject to leverage and fixed-charge covenants); (2) a $750 million upsizing of ABG鈥檚 Senior Credit Facility with Bank of America and syndicate lenders; and (3) available cash.

The term loan and expanded revolver are guaranteed by the parent and certain subsidiaries and include customary affirmative, negative and cross-default provisions. Required historical and pro-forma financial statements will be filed within 71 days. A press release announcing completion is furnished as Exhibit 99.1.

Asbury Automotive Group (ABG) ha comunicato tramite il modulo 8-K che il 21 luglio 2025 ha completato l'acquisizione da 1,45 miliardi di dollari di The Herb Chambers Companies, aggiungendo 33 concessionarie, 52 marchi e tre centri collisioni alla sua piattaforma.

L'acquisizione 猫 stata finanziata tramite: (1) un nuovo prestito a termine immobiliare decennale da 546,5 milioni di dollari con Wells Fargo e altri finanziatori (SOFR + 2% o tasso base + 1%, 118 rate mensili da 2,28 milioni di dollari a partire dal 1掳 settembre 2025, pagamento finale a scadenza, garantito da privilegi ipotecari di prima priorit脿, soggetto a covenant di leva finanziaria e oneri fissi); (2) un incremento di 750 milioni di dollari della linea di credito senior di ABG con Bank of America e sindacato di finanziatori; e (3) liquidit脿 disponibile.

Il prestito a termine e la linea di credito ampliata sono garantiti dalla societ脿 madre e da alcune controllate e includono disposizioni consuete di natura positiva, negativa e cross-default. I bilanci storici e pro-forma richiesti saranno depositati entro 71 giorni. Un comunicato stampa che annuncia il completamento 猫 allegato come Exhibit 99.1.

Asbury Automotive Group (ABG) inform贸 en el Formulario 8-K que el 21 de julio de 2025 cerr贸 la compra de 1,45 mil millones de d贸lares de The Herb Chambers Companies, a帽adiendo 33 concesionarios, 52 franquicias y tres centros de colisi贸n a su plataforma.

La adquisici贸n fue financiada mediante: (1) un nuevo pr茅stamo a plazo inmobiliario a 10 a帽os por 546,5 millones de d贸lares con Wells Fargo y otros prestamistas (SOFR + 2% o Tasa Base + 1%, 118 pagos mensuales de amortizaci贸n de 2,28 millones de d贸lares a partir del 1 de septiembre de 2025, pago global al vencimiento, garantizado por grav谩menes inmobiliarios prioritarios, sujeto a convenios de apalancamiento y cargos fijos); (2) un incremento de 750 millones de d贸lares en la l铆nea de cr茅dito senior de ABG con Bank of America y un sindicato de prestamistas; y (3) efectivo disponible.

El pr茅stamo a plazo y la l铆nea de cr茅dito ampliada est谩n garantizados por la matriz y ciertas subsidiarias e incluyen disposiciones habituales afirmativas, negativas y de incumplimiento cruzado. Los estados financieros hist贸ricos y pro forma requeridos se presentar谩n en un plazo de 71 d铆as. Un comunicado de prensa anunciando la finalizaci贸n se adjunta como Exhibit 99.1.

Asbury Automotive Group (ABG)電� 2025雲� 7鞗� 21鞚� Form 8-K毳� 韱淀暣 The Herb Chambers Companies毳� 14鞏� 5觳滊 雼煬鞐� 鞚胳垬 鞕勲頄堧嫟瓿� 氤搓碃頄堨溂氅�, 鞚措ゼ 韱淀暣 33臧滌潣 霐滊煬鞁�, 52臧滌潣 頂勲灉彀澊歃� 氚� 3臧滌潣 於╇弻 靾橂Μ 靹柬劙臧� 頂岆灚韽检棎 於旉皜霅橃棃鞀惦媹雼�.

鞚措矆 鞚胳垬電� 雼れ潓瓿� 臧欖澊 鞛愱笀 臁半嫭霅橃棃鞀惦媹雼�: (1) Wells Fargo 氚� 旮绊儉 雽�於滉赴甏�瓿� 觳搓舶頃� 5鞏� 4,650毵� 雼煬 攴滊鞚� 10雲� 毵岅赴 攵�霃欖偘 雼措炒 雽�於�(SOFR + 2% 霕愲姅 旮办旮堧Μ + 1%, 2025雲� 9鞗� 1鞚茧秬韯� 鞗� 228毵� 雼煬鞌� 118須� 攵勴暊靸來櫂, 毵岅赴 鞁� 鞚检嫓靸來櫂, 1靾滌渼 攵�霃欖偘 雼措炒甓岇溂搿� 雼措炒, 霠堧矂毽 氚� 瓿犾爼牍勳毄 瓿勳暯 臁瓣贝 鞝侅毄); (2) Bank of America 氚� 鞁犽敂旒�鞚错姼 雽�於滉赴甏�瓿� 觳搓舶頃� ABG鞚� 靹犾垳鞙� 鞁犾毄 鞁滌劋 7鞏� 5觳滊 雼煬 歃濎暋; (3) 臧�鞖� 順勱笀.

鞚� 攵�霃欖偘 雼措炒 雽�於滉臣 頇曤寑霅� 毽臣牍� 鞁犾毄 頃滊弰電� 氇殞靷� 氚� 鞚茧秬 鞛愴殞靷皜 氤挫頃橂┌, 韱奠儊鞝侅澑 旮嶌爼鞝�, 攵�鞝曥爜 氚� 甑愳皑 霐旐彺韸� 臁绊暛鞚� 韽暔頃╇媹雼�. 鞖旉惮霅橂姅 瓿缄卑 氚� 鞓堨儊 鞛鞝滍憸電� 71鞚� 鞚措偞鞐� 鞝滌稖霅� 鞓堨爼鞛呺媹雼�. 鞕勲毳� 鞎岆Μ電� 氤措弰鞛愲電� Exhibit 99.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.

Asbury Automotive Group (ABG) a d茅clar茅 dans le formulaire 8-K que le 21 juillet 2025, elle a finalis茅 l'acquisition de The Herb Chambers Companies pour 1,45 milliard de dollars, ajoutant 33 concessions, 52 franchises et trois centres de carrosserie 脿 sa plateforme.

L'acquisition a 茅t茅 financ茅e par : (1) un nouveau pr锚t immobilier 脿 terme de 546,5 millions de dollars sur 10 ans avec Wells Fargo et d'autres pr锚teurs (SOFR + 2 % ou taux de base + 1 %, 118 paiements mensuels d'amortissement de 2,28 millions de dollars 脿 partir du 1er septembre 2025, paiement global 脿 l'茅ch茅ance, garanti par des privil猫ges hypoth茅caires de premier rang, soumis 脿 des engagements de levier et de charges fixes) ; (2) une augmentation de 750 millions de dollars de la facilit茅 de cr茅dit senior d'ABG aupr猫s de Bank of America et d'un syndicat de pr锚teurs ; et (3) des liquidit茅s disponibles.

Le pr锚t 脿 terme et la facilit茅 de cr茅dit 茅largie sont garantis par la soci茅t茅 m猫re et certaines filiales et incluent des dispositions habituelles positives, n茅gatives et de d茅faillance crois茅e. Les 茅tats financiers historiques et pro forma requis seront d茅pos茅s dans les 71 jours. Un communiqu茅 de presse annon莽ant la finalisation est fourni en annexe 99.1.

Asbury Automotive Group (ABG) meldete im Formular 8-K, dass am 21. Juli 2025 der 1,45 Milliarden Dollar teure Erwerb von The Herb Chambers Companies abgeschlossen wurde, wodurch 33 Autoh盲user, 52 Marken und drei Karosseriezentren zur Plattform hinzugef眉gt wurden.

Die Finanzierung der 脺bernahme erfolgte durch: (1) ein neuer 546,5 Millionen Dollar, 10-j盲hriger Immobilien-Terminkredit mit Wells Fargo und weiteren Kreditgebern (SOFR + 2 % oder Basiszinssatz + 1 %, 118 monatliche Tilgungsraten von 2,28 Millionen Dollar beginnend ab 1. September 2025, Schlussrate bei F盲lligkeit, besichert durch vorrangige Immobilienpfandrechte, unterliegt Verschuldungs- und Fixkosten-Klauseln); (2) eine Aufstockung der Senior-Kreditfazilit盲t von ABG um 750 Millionen Dollar bei Bank of America und einem Kreditgeberkonsortium; sowie (3) verf眉gbare liquide Mittel.

Der Terminkredit und der erweiterte revolvierende Kredit werden von der Muttergesellschaft und bestimmten Tochtergesellschaften garantiert und enthalten 眉bliche positive, negative und Kreuzverzugsklauseln. Die erforderlichen historischen und pro-forma Finanzberichte werden innerhalb von 71 Tagen eingereicht. Eine Pressemitteilung zum Abschluss ist als Exhibit 99.1 beigef眉gt.

Positive
  • $1.45 bn acquisition adds 33 dealerships, 52 franchises and 3 collision centres, materially expanding revenue base.
  • $546.5 m fixed-rate, long-dated real-estate facility secures funding at defined spreads, lowering near-term refinancing needs.
  • $750 m Senior Credit Facility expansion enhances liquidity and working-capital flexibility post-closing.
Negative
  • Leverage increases by >$1.3 bn, raising lease-adjusted leverage and future interest burden.
  • Debt covenants may restrict dividends and additional borrowing, reducing financial flexibility.
  • Integration of 33 dealerships carries execution and goodwill impairment risk if synergies fall short.

Insights

TL;DR: Transformative $1.45 bn buy adds 33 dealerships; financing mix locks in long-dated real-estate debt.

Deal scope: ABG鈥檚 acquisition instantly deepens its Northeast presence and lifts its dealership count by ~20%. Goodwill allocation ($750 m) signals strong earnings expectations and limited identifiable intangibles.
Funding: Combining a fixed-asset-backed term loan with an upsized revolving floorplan spreads risk and preserves liquidity for working capital. Ten-year maturity reduces near-term refinancing pressure.
Strategic fit: Herb Chambers鈥� luxury mix aligns with ABG鈥檚 focus on higher-margin brands, potentially raising average gross profit per unit. Management retains flexibility to divest under-performing rooftops given asset-level collateral.

TL;DR: Leverage rises sharply; covenant headroom depends on swift integration and stable SAAR.

Debt impact: New borrowings exceed $1.3 bn, likely pushing lease-adjusted leverage above 4脳. While the real-estate loan is amortising, principal payments start in FY25Q3, pressuring cash flow.
Covenants: Fixed-charge coverage and leverage tests mirror the Senior Facility, limiting dividend flexibility and further M&A. Cross-defaults heighten contagion risk.
Mitigants: Property collateral and staggered amortisation reduce loss-given-default; diversified lender group spreads refinancing options. Overall credit posture shifts to moderately higher risk but remains serviceable if post-deal synergies materialise.

Asbury Automotive Group (ABG) ha comunicato tramite il modulo 8-K che il 21 luglio 2025 ha completato l'acquisizione da 1,45 miliardi di dollari di The Herb Chambers Companies, aggiungendo 33 concessionarie, 52 marchi e tre centri collisioni alla sua piattaforma.

L'acquisizione 猫 stata finanziata tramite: (1) un nuovo prestito a termine immobiliare decennale da 546,5 milioni di dollari con Wells Fargo e altri finanziatori (SOFR + 2% o tasso base + 1%, 118 rate mensili da 2,28 milioni di dollari a partire dal 1掳 settembre 2025, pagamento finale a scadenza, garantito da privilegi ipotecari di prima priorit脿, soggetto a covenant di leva finanziaria e oneri fissi); (2) un incremento di 750 milioni di dollari della linea di credito senior di ABG con Bank of America e sindacato di finanziatori; e (3) liquidit脿 disponibile.

Il prestito a termine e la linea di credito ampliata sono garantiti dalla societ脿 madre e da alcune controllate e includono disposizioni consuete di natura positiva, negativa e cross-default. I bilanci storici e pro-forma richiesti saranno depositati entro 71 giorni. Un comunicato stampa che annuncia il completamento 猫 allegato come Exhibit 99.1.

Asbury Automotive Group (ABG) inform贸 en el Formulario 8-K que el 21 de julio de 2025 cerr贸 la compra de 1,45 mil millones de d贸lares de The Herb Chambers Companies, a帽adiendo 33 concesionarios, 52 franquicias y tres centros de colisi贸n a su plataforma.

La adquisici贸n fue financiada mediante: (1) un nuevo pr茅stamo a plazo inmobiliario a 10 a帽os por 546,5 millones de d贸lares con Wells Fargo y otros prestamistas (SOFR + 2% o Tasa Base + 1%, 118 pagos mensuales de amortizaci贸n de 2,28 millones de d贸lares a partir del 1 de septiembre de 2025, pago global al vencimiento, garantizado por grav谩menes inmobiliarios prioritarios, sujeto a convenios de apalancamiento y cargos fijos); (2) un incremento de 750 millones de d贸lares en la l铆nea de cr茅dito senior de ABG con Bank of America y un sindicato de prestamistas; y (3) efectivo disponible.

El pr茅stamo a plazo y la l铆nea de cr茅dito ampliada est谩n garantizados por la matriz y ciertas subsidiarias e incluyen disposiciones habituales afirmativas, negativas y de incumplimiento cruzado. Los estados financieros hist贸ricos y pro forma requeridos se presentar谩n en un plazo de 71 d铆as. Un comunicado de prensa anunciando la finalizaci贸n se adjunta como Exhibit 99.1.

Asbury Automotive Group (ABG)電� 2025雲� 7鞗� 21鞚� Form 8-K毳� 韱淀暣 The Herb Chambers Companies毳� 14鞏� 5觳滊 雼煬鞐� 鞚胳垬 鞕勲頄堧嫟瓿� 氤搓碃頄堨溂氅�, 鞚措ゼ 韱淀暣 33臧滌潣 霐滊煬鞁�, 52臧滌潣 頂勲灉彀澊歃� 氚� 3臧滌潣 於╇弻 靾橂Μ 靹柬劙臧� 頂岆灚韽检棎 於旉皜霅橃棃鞀惦媹雼�.

鞚措矆 鞚胳垬電� 雼れ潓瓿� 臧欖澊 鞛愱笀 臁半嫭霅橃棃鞀惦媹雼�: (1) Wells Fargo 氚� 旮绊儉 雽�於滉赴甏�瓿� 觳搓舶頃� 5鞏� 4,650毵� 雼煬 攴滊鞚� 10雲� 毵岅赴 攵�霃欖偘 雼措炒 雽�於�(SOFR + 2% 霕愲姅 旮办旮堧Μ + 1%, 2025雲� 9鞗� 1鞚茧秬韯� 鞗� 228毵� 雼煬鞌� 118須� 攵勴暊靸來櫂, 毵岅赴 鞁� 鞚检嫓靸來櫂, 1靾滌渼 攵�霃欖偘 雼措炒甓岇溂搿� 雼措炒, 霠堧矂毽 氚� 瓿犾爼牍勳毄 瓿勳暯 臁瓣贝 鞝侅毄); (2) Bank of America 氚� 鞁犽敂旒�鞚错姼 雽�於滉赴甏�瓿� 觳搓舶頃� ABG鞚� 靹犾垳鞙� 鞁犾毄 鞁滌劋 7鞏� 5觳滊 雼煬 歃濎暋; (3) 臧�鞖� 順勱笀.

鞚� 攵�霃欖偘 雼措炒 雽�於滉臣 頇曤寑霅� 毽臣牍� 鞁犾毄 頃滊弰電� 氇殞靷� 氚� 鞚茧秬 鞛愴殞靷皜 氤挫頃橂┌, 韱奠儊鞝侅澑 旮嶌爼鞝�, 攵�鞝曥爜 氚� 甑愳皑 霐旐彺韸� 臁绊暛鞚� 韽暔頃╇媹雼�. 鞖旉惮霅橂姅 瓿缄卑 氚� 鞓堨儊 鞛鞝滍憸電� 71鞚� 鞚措偞鞐� 鞝滌稖霅� 鞓堨爼鞛呺媹雼�. 鞕勲毳� 鞎岆Μ電� 氤措弰鞛愲電� Exhibit 99.1搿� 觳秬霅橃柎 鞛堨姷雼堧嫟.

Asbury Automotive Group (ABG) a d茅clar茅 dans le formulaire 8-K que le 21 juillet 2025, elle a finalis茅 l'acquisition de The Herb Chambers Companies pour 1,45 milliard de dollars, ajoutant 33 concessions, 52 franchises et trois centres de carrosserie 脿 sa plateforme.

L'acquisition a 茅t茅 financ茅e par : (1) un nouveau pr锚t immobilier 脿 terme de 546,5 millions de dollars sur 10 ans avec Wells Fargo et d'autres pr锚teurs (SOFR + 2 % ou taux de base + 1 %, 118 paiements mensuels d'amortissement de 2,28 millions de dollars 脿 partir du 1er septembre 2025, paiement global 脿 l'茅ch茅ance, garanti par des privil猫ges hypoth茅caires de premier rang, soumis 脿 des engagements de levier et de charges fixes) ; (2) une augmentation de 750 millions de dollars de la facilit茅 de cr茅dit senior d'ABG aupr猫s de Bank of America et d'un syndicat de pr锚teurs ; et (3) des liquidit茅s disponibles.

Le pr锚t 脿 terme et la facilit茅 de cr茅dit 茅largie sont garantis par la soci茅t茅 m猫re et certaines filiales et incluent des dispositions habituelles positives, n茅gatives et de d茅faillance crois茅e. Les 茅tats financiers historiques et pro forma requis seront d茅pos茅s dans les 71 jours. Un communiqu茅 de presse annon莽ant la finalisation est fourni en annexe 99.1.

Asbury Automotive Group (ABG) meldete im Formular 8-K, dass am 21. Juli 2025 der 1,45 Milliarden Dollar teure Erwerb von The Herb Chambers Companies abgeschlossen wurde, wodurch 33 Autoh盲user, 52 Marken und drei Karosseriezentren zur Plattform hinzugef眉gt wurden.

Die Finanzierung der 脺bernahme erfolgte durch: (1) ein neuer 546,5 Millionen Dollar, 10-j盲hriger Immobilien-Terminkredit mit Wells Fargo und weiteren Kreditgebern (SOFR + 2 % oder Basiszinssatz + 1 %, 118 monatliche Tilgungsraten von 2,28 Millionen Dollar beginnend ab 1. September 2025, Schlussrate bei F盲lligkeit, besichert durch vorrangige Immobilienpfandrechte, unterliegt Verschuldungs- und Fixkosten-Klauseln); (2) eine Aufstockung der Senior-Kreditfazilit盲t von ABG um 750 Millionen Dollar bei Bank of America und einem Kreditgeberkonsortium; sowie (3) verf眉gbare liquide Mittel.

Der Terminkredit und der erweiterte revolvierende Kredit werden von der Muttergesellschaft und bestimmten Tochtergesellschaften garantiert und enthalten 眉bliche positive, negative und Kreuzverzugsklauseln. Die erforderlichen historischen und pro-forma Finanzberichte werden innerhalb von 71 Tagen eingereicht. Eine Pressemitteilung zum Abschluss ist als Exhibit 99.1 beigef眉gt.

0001144980false00011449802025-07-212025-07-21

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 21, 2025 
Asbury Automotive Group, Inc.
(Exact name of registrant as specified in its charter)  
Delaware
(State or other jurisdiction of incorporation)  
001-31262 01-0609375
(Commission File Number) (IRS Employer Identification No.)
2905 Premiere Parkway NW Suite 300
Duluth,GA 30097
(Address of principal executive offices)(Zip Code)
 
(770) 418-8200
(Registrant's telephone number, including area code)
None
(Former name or former address, if changed since last report)  
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Trading
Title of each classSymbol(s)Name of each exchange on which registered
Common stock, $0.01 par value per shareABGNew York Stock Exchange



Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
























    


Item 1.01. Entry into Material Definitive Agreement.
On July 21, 2025, certain subsidiaries of Asbury Automotive Group, Inc. (the “Company”) borrowed $546,528,750 (the “AG真人官方 Estate Facility”) under a real estate term loan credit agreement, dated as of July 21, 2025 (the “AG真人官方 Estate Credit Agreement”) by and among the Company, certain of the Company’s subsidiaries that own or lease the real estate financed thereunder, as borrowers, Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and the various financial institutions parties thereto, as lenders (the “Lenders”). The AG真人官方 Estate Facility matures ten years from the initial funding date (the “Maturity Date”). The Company used the proceeds from these borrowings, together with other available funds, to finance the Transaction (as hereinafter defined).
Term loans under the AG真人官方 Estate Facility bear interest, at our option, based on (1) SOFR plus 2% per annum or (2) the Base Rate (as described below) plus 1% per annum. The Base Rate is the highest of (a) the Prime Rate, (b) the Federal Funds Rate plus .50% and (c) Term SOFR for a one-month tenor in effect on such date plus 1%. We will be required to make 118 consecutive monthly principal payments of $2,277,203 (as may be adjusted as a result of certain prepayments), commencing September 1, 2025, with a balloon repayment of the outstanding principal amount of loans due on the Maturity Date. Borrowings under the AG真人官方 Estate Facility are guaranteed by the Company and certain of the Company’s subsidiaries, and are collateralized by first priority liens, subject to certain permitted exceptions, on all of the real property financed thereunder.
The representations, warranties and covenants in the AG真人官方 Estate Credit Agreement are customary for financing transactions of this nature, including, among others, a requirement to comply with a minimum consolidated fixed charge coverage ratio and maximum consolidated total lease adjusted leverage ratio, in each case as set out in the AG真人官方 Estate Credit Agreement. In addition, certain other covenants could restrict our ability to incur additional debt, pay dividends or acquire or dispose of assets. The AG真人官方 Estate Credit Agreement also provides for events of default that are customary for financing transactions of this nature, including cross-defaults to other material indebtedness. Upon the occurrence of an event of default, we could be required by the AG真人官方 Estate Credit Agreement to immediately repay all amounts outstanding thereunder.
The Company and certain of its affiliates may have commercial banking, investment banking and retail lending and other relationships with certain of the Lenders and/or their respective affiliates. These Lenders, or their respective affiliates, have received, and may in the future receive, customary fees and expenses for those services.
The foregoing description of the AG真人官方 Estate Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the AG真人官方 Estate Credit Agreement, which will be filed with the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending September 30, 2025, and is incorporated herein by reference. The information under Sections 2.01 and 2.03 below is incorporated herein by reference.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On July 21, 2025, Asbury Automotive Group, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Company, completed its previously announced acquisition of substantially all of the assets (the “Transaction”), including real property and businesses of The Herb Chambers Companies (collectively, the “Businesses”), pursuant to a Purchase and Sale Agreement with various entities that comprise the Herb Chambers automotive dealerships group for an aggregate net purchase price of approximately $1.45 billion, which includes $750 million for goodwill, approximately $610 million for the real estate and leasehold improvements, and approximately $85 million for new vehicles, used vehicles, service loaner vehicles, fixed assets, parts and supplies, which is net of non-manufacturer floorplan of $375 million.
The Transaction was funded primarily with borrowings under the Senior Credit Facility (as hereinafter defined), mortgage proceeds under the AG真人官方 Estate Facility, and cash on hand. The Businesses include 33 dealerships, 52 franchises, and three collision centers. The information under Sections 1.01 and 2.03 is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On July 21, 2025, the Company and certain of its subsidiaries expanded the size of the Company’s existing credit facility by $750 million under the previously announced First Amendment to the Fourth Amended and Restated Credit Agreement (as amended, the "Senior Credit Facility"), dated as of April 9, 2025, by and among the Company, as a borrower, certain of its subsidiaries, as vehicle borrowers, Bank of America, N.A., as administrative agent, revolving swing line lender, new vehicle floorplan swing line lender, used vehicle floorplan swing line lender and an L/C issuer, and the other lenders party thereto. The increases to the Senior Credit Facility for these borrowings were conditioned upon and only became effective concurrently with the consummation of the Transaction.


The Company and certain of its affiliates may have commercial banking, investment banking and retail lending and other relationships with certain of the lenders under the Senior Credit Facility, as amended, and/or their respective affiliates. These lenders, or their respective affiliates, have received, and may in the future receive, customary fees and expenses for those services. The information under Sections 1.01 and 2.01 above is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
On July 21, 2025, the Company published a press release announcing the completion of the Transaction. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 7.01 by reference.
Item 9.01 Financial Statements and Exhibits.
(a)   Financial statements of business acquired.
The financial statements required by this item will be filed by amendment to this Current Report on Form 8-K no later than 71 calendar days after the date on which this Current Report on Form 8-K must be filed.
(b)  Pro forma financial information.
The financial information required by this item will be filed by amendment to this Current Report on Form 8-K no later than 71 calendar days after the date on which this Current Report on Form 8-K must be filed.
(d)    Exhibits.
The following exhibits are furnished as part of this report.
Exhibit No.  Description
2.1
Purchase and Sale Agreement, dated February 14, 2025, by and among Asbury Automotive Group L.L.C., Herbert G. Chambers, Jennings Road Management Corp., the Dealership Companies (as defined therein) and the AG真人官方 Estate Companies (as defined therein) (incorporated by reference to Exhibit 2.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 filed on April 30, 2025).
99.1
Press Release, dated July 21, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
 


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
ASBURY AUTOMOTIVE GROUP, INC.
Date: July 21, 2025By:/s/ Dean A. Calloway
Name:Dean A. Calloway
Title:Senior Vice President, General Counsel & Secretary


Source:

FAQ

How much did Asbury Automotive Group (ABG) pay for The Herb Chambers Companies?

Approximately $1.45 billion, including $750 m goodwill, $610 m real estate and $85 m inventory/fixed assets.

How is ABG financing the Herb Chambers acquisition?

Primarily through a $546.5 m real-estate term loan, a $750 m expansion of its Senior Credit Facility, and cash on hand.

What are the key terms of the new real-estate term loan?

10-year maturity, SOFR + 2% or Base Rate + 1% interest, 118 monthly principal payments of $2.28 m starting 1 Sep 2025.

When will ABG file financial statements for the acquired business?

Within 71 days of the 8-K filing date, as required under Item 9.01.

How many dealerships did ABG add through this transaction?

The deal adds 33 dealerships, 52 franchises and three collision centers.
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Asbury Automotive Group Inc

NYSE:ABG

ABG Rankings

#1911 Ranked by Market Cap
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ABG Latest News

Jul 21, 2025
Asbury Automotive Group Completes Acquisition of Herb Chambers Dealerships
Jul 1, 2025
Asbury Automotive Group Schedules Release of Second Quarter 2025 Financial Results
Jun 30, 2025
Kerrigan Advisors Represents Asbury Automotive Group in Sale of Larry H. Miller Ford, Chevrolet and CDJR Dealerships in Provo, Utah to Salt Lake Valley Auto Group
Jun 17, 2025
The Presidio Group advises Asbury Automotive Group on the sale of Larry H. Miller Toyota Lemon Grove to Vaughan Automotive
Jun 11, 2025
The Presidio Group Advises Asbury Automotive Group on the Sale of Larry H. Miller Toyota Corona in California

ABG Latest SEC Filings

Jul 2, 2025
[Form 4] Asbury Automotive Group, Inc. Insider Trading Activity
Jun 24, 2025
[SCHEDULE 13D/A] Asbury Automotive Group, Inc. SEC Filing

ABG Stock Data

5.18B
19.53M
0.65%
112.47%
7.63%
Auto & Truck Dealerships
Retail-auto Dealers & Gasoline Stations
United States
DULUTH