BB&T Insurance Services announced plans to expand its metro Atlanta and north Georgia operation with the acquisition of Sidney O. Smith Inc.
Sidney O. Smith Inc. currently provides commercial and personal property and casualty coverage to 17,000 clients out of their Gainesville and Alpharetta offices.
The transaction is expected to be completed in November. Terms were not disclosed. The agency’s Alpharetta office will merge with BB&T’s existing Alpharetta agency, BB&T-Huffines Russell.
Sidney O. Smith, the first licensed insurance agent in Georgia, founded the agency in 1916. The current majority owners are George D. Jones, chief executive officer, and Jim Moore, president. Moore will serve as agency manager following the merger.
Source: BB&T Corp.
Topics Mergers & Acquisitions Georgia
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