Hub Completes West Coast Purchase
NU Online News Service, Dec. 11, 10:19 a.m. EST?Insurance broker Hub International, Ltd. has announced the purchase of Hooper, Hayes & Associates Inc. and its wholly owned employee benefits affiliate in Los Angeles, Brentwood Benefits & Consultants, Inc.
Chicago-based Hub said the transaction was made with a combination of stock and cash. Terms for the deal were not released.
Hooper, founded in 1946, reports annual revenues of about $5.3 million and employs 35 people.
The firm said that Hooper would assume management of Kaye-Western Insurance & Risk Services Inc., Hub's existing retail brokerage unit in Arcadia, Calif.
This purchase, Hub said, establishes a West Coast operation from which it plans to grow its market share within the region.
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