Brown & Brown Inc. said it has acquired Sobel Affiliates Inc. of Garden City, N.Y. Financial terms of the transaction were not released.
The Daytona Beach, Fla.-based insurance broker said Sobel was founded in 1904 and generates approximately $12 million in revenue annually. The agency provides comprehensive risk management and insurance services to a wide diversity of commercial and personal customers, and offers many specialty niche programs.
Sobel will become a new freestanding Brown & Brown profit center with Alan Labadorf, president of Sobel, and Michael Labadorf and Irwin Labadorf, principals, and their staff continuing to operate from their current location.
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