NU Online News Service, July 28, 2003, 11:35 a.m. EDT – Brown & Brown Inc., Daytona Beach, Fla., has agreed to acquire the assets of The Hoffman Company, Gardena, Calif., an insurance agency that sells group health insurance.
The price of the deal and other financial terms were not immediately available.
Hoffman Company generates about $1.4 million in annual revenue, Brown & Brown says.
Brown & Brown plans to hire Hugh Hoffman, the owner of the agency, and the agency's employees, and it will set up a new office for the Hoffman Company employees and the people it already employs in Orange County, Calif., Brown & Brown says.
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