Insurance broker Brown & Brown Inc., based in Daytona Beach, Fla., said it plans to acquire the insurance brokerage firm Grinspec Inc. of New Providence and Moorestown, N.J. Transaction terms were not released.
Brown & Brown said Grinspec specializes in group health, dental, vision and other group insurance benefits for employees of public entities, primarily school districts, in New Jersey. The firm produced approximately $8.2 million in annualized revenues last year.
Following the closing, Grinspec will continue to operate from its existing locations as freestanding Brown & Brown operations.
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