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Brown Acquires Statfeld Vantage

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NU Online News Service, March 8, 2004, 1:02 p.m. EST – Brown & Brown Inc., Daytona Beach, Fla., has acquired the assets of Statfeld Vantage Insurance Group L.L.C., Florham Park, N.J.[@@]

The price and other financial terms were not immediately available.

Statfeld Vantage, founded by Martin Statfeld, is a general insurance agency that has been generating about $11 million in annual revenue. It specializes in benefits consulting and benefits plan design.

Brown & Brown will be hiring Statfeld and folding the Statfeld Vantage office into a new, freestanding office.