Daytona Beach, Fla.-based insurance broker Brown & Brown said it has acquired Charlotte, N.C.-based The Benefits Dept. Terms of the deal were not released.
The company said its new acquisition has annualized revenues of approximately $2.3 million and is engaged in the individual and group employee benefits insurance agency and related services business in North Carolina, Florida and throughout the United States.
William J. "Bill" Fowler Jr. and Linda A. Knouse, principals of The Benefits Dept., and their staff will operate as a new stand-alone Brown & Brown office from their current location.
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