BB&T Insurance Services, based in Raleigh, N.C., announced plans to expand its Georgia operation with the acquisition of Cranman & Company Inc. of Savannah.
BB&T would combine Cranman & Company with its existing Savannah agency—transportation industry specialist BB&T-Lofton Group—to form BB&T-Lofton & Cranman.
The combined agency would offer a full array of insurance products and services, including personal and business lines as well as employee benefits insurance.
The transaction is expected to be completed in January 2003. Terms were not disclosed.
BB&T Insurance Services’ Georgia operation also includes agencies in Alpharetta, Carrollton, Thomaston, Macon, Dalton and Kennesaw.
BB&T Insurance Services is a wholly owned subsidiary of Branch Banking and Trust Company.
Topics Mergers & Acquisitions
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