Cross Insurance Acquires A.E. Barnes Insurance Agency in Massachusetts

Cross Insurance, a Bangor, Maine-based subsidiary of Cross Financial Corp., is continuing to grow its presence in Massachusetts with the purchase of the A.E. Barnes Insurance Agency of South Weymouth, Mass.

Since its founding in 1915 by Albert E. Barnes, the A. E. Barnes Insurance Agency has been a landmark in South Weymouth’s Columbian Square. In 1954, the Agency was acquired by Henry Hoffman and incorporated in 1961. Today, A. E. Barnes has a diverse clientele of both small and large commercial and personal lines clients.

Under the terms of the acquisition, A. E. Barnes Insurance Agency will become a wholly-owned subsidiary of Cross Financial Corp. and will continue to operate under the same name. Former owners Preston Hoffman and Geoffrey Hoffman will continue to manage the South Weymouth office and will continue to serve as president and vice president, respectively. The Agency’s staff also will continue serving existing and new customers.

Cross Insurance owns and operates 14 additional agencies in Massachusetts, including offices in Duxbury, Braintree, Norwell and Quincy; two offices in Boston; three on the North Shore; two in Metrowest; and three in Western Massachusetts.

Financial terms of the acquisition were not disclosed.

Source: Cross Insurance

Topics Mergers & Acquisitions Massachusetts