BB&T Insurance Services said it will acquire Woodbury & Co. of Wilmington, N.C., and Myrtle Beach, S.C.
Woodbury & Co. sells commercial property/casualty; employee benefits; individual life and health; personal lines; and professional liability throughout the Carolinas. The agency has more than 50 employees.
The transaction is scheduled to be completed April 1. Terms were not disclosed.
Woodbury & Co. was founded in 1932 by Louie E. Woodbury Jr. President Eugene Woodbury and Commercial Lines Manager Carolyn Finley have both been with the company for more than 50 years and will join the BB&T Insurance Services management team, the firms said.
BB&T Insurance will combine its existing agencies in Wilmington and Myrtle Beach with Woodbury & Co.
Raleigh, N.C.-based BB&T Insurance Holdings, a wholly owned subsidiary of BB&T Corp., operates more than 100 insurance agencies through subsidiaries BB&T Insurance Services, BB&T Insurance Services of California, and McGriff, Seibels & Williams.