Emerson Reid & Company has agreed to acquire Leader Associates.

Emerson Reid, New York, a wholesale-only broker, is not saying how much it is paying for Leader Associates, Melville, N.Y., but it says it expects the combined entity to generate about $29 million in annual revenue.

Emerson Reid will have operations in New York, New Jersey, Philadelphia and Harrisburg, Pa., the company says.

Emerson Reid now supports independent producers who serve benefit plans with about 100,000 covered medical lives, the company says.