New York-based Emerson, Reid & Co. said it has acquired N.J.-based general agent BenefitPort MidAtlantic for an undisclosed amount.
The acquisition of BenefitPort, which distributes group products to small and large businesses through independent agents and brokers, should add around $6 million in annual revenue to Emerson Reid, the company said.
It will also strengthen Emerson Reid’s presence in the New Jersey market and “serve as a strategic link” between the firm’s New York and Pennsylvania operations.
Arthur Hall, Emerson Reid’s CEO, said the deal “solidifies our position as the largest general agent in New York, New Jersey and Pennsylvania.”
Emerson Reid plans to maintain BenefitPort’s current operations from its Englewood, N.J. location.
Source: Emerson, Reid & Co.