New York-based Demetriou General Agency Inc. has acquired H. Al Roth Agency in Manhattan for an undisclosed sum. The acquisition comes as Demetriou announced expansion plans for its Madison Avenue headquarters to accommodate two other acquisitions that are being concluded.
Demetriou says its new location will provide for enhanced processing and other activities conducted by the agency for the more than 600 agents and brokers with whom it works.
John G. Mavroukas, executive vice president of the firm, said the company has built “a reputation over the years, we believe, for careful, earnest relationship building with agents and brokers and for the representation of aggressive companies whose products fit the New York and New Jersey marketplace—a tradition we plan to continue as we acquire general agencies, expand our staff and grow our broker base.”
Demetriou says it’s quickly approaching the $100 million mark as its expansion continues through acquisitions, consolidation and increased agent and broker activity in the Tri-state area.
Source: The Demetriou General Agency Inc.
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