NU Online News Service, April 13, 1:23 p.m.EDT
|Daytona Beach, Fla.-based insurance brokerage Brown & Brownsaid it has acquired W. R. Reed & Co. of Portland, Ore.Financial terms were not released.
|Brown & Brown said W. R. Reed has annualized revenues ofapproximately $1.5 million and provides property-casualty, life,health, and other insurance products and services to individualsand businesses in Portland and throughout the United States. Thefirm was founded by William R. Reed Sr. in 1957.
|Michael Fohl, Christopher Foster, the shareholders of W. R.Reed, and their staff will combine their operations with those ofBrown & Brown's existing Portland office, under the leadershipof Tim Nielsen.
|Kenneth D. Kirk, regional president of Brown & Brown, inwelcoming the W. R. Reed agency to Brown & Brown said in astatement that the deal marks the third acquisition in Portland andthe broker looks forward to building throughout the state.
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