Auto retailer Asbury Automotive Group said on Tuesday it would acquire automotive dealerships owned by Herb Chambers Companies in a deal valued at $1.34 billion.

The deal marks the end of private ownership for one of the largest auto dealership chains. The post Herb Chambers is selling his dealerships in $1.34 billion deal appeared first on Boston.com.

Asbury Automotive Group has reached a definitive agreement to acquire 33 dealerships and three collision centers from HCC.

The deal, which is expected to close later this year, includes 33 dealerships, 52 franchises, and three collision centers in Massachusetts and Rhode Island.

Documents recently submitted to the U.S. Securities and Exchange Commission reveal that Asbury Automotive Group will acquire Herb Chambers' 33 dealerships, 52 franchises and three collision centers.

Herb Chambers has been one of the most prominent names in the automotive sector across New England. His company is one of the largest private auto dealership groups in the United States and currently employs more than 2,

Asbury Automotive Group Inc. agreed to buy The Herb Chambers Cos. for more than $1.3 billion, the companies announced Feb. 18. Chambers is the 14th-largest privately owned car dealership group in the U.