Bangor, Maine-based Cross Insurance has acquired Merchant, Needham & Associates Insurance, an independent insurance agency based in Northeast Harbor, Maine. Terms of the transaction were not disclosed.
Originally founded in the late 1890s, Merchant, Needham & Associates provides business, home, and vehicle insurance offerings for customers throughout Hancock, Washington, Penobscot and Knox counties in Maine. The agency will operate as a member of Cross Insurance but will retain both its name and nine-member workforce.
The deal marks the fifth acquisition this year for Cross Insurance, one of the largest independent insurance providers in New England.