Brown & Brown Inc., the sprawling U.S. insurance brokerage based in Daytona Beach, has acquired Citrus Insurance and its affiliate, CHAPP Inc., which secures workers’ compensation coverage for citrus growers in Florida.
CHAPP and Citrus have offices in Dundee, Florida. Bucky and Cindy Payne have owned the agency that was founded by Ed Crawford in 1976, Brown & Brown said in a news release. The team will now join B&B’s offices in Lakeland and Sebring, Florida.
The terms of the deal were not disclosed.
The publicly traded Brown & Brown has continued to expand across the country through acquisitions. Last month, the brokerage’s dealer services division acquired the assets of DealerMax in the Northeast, along with a Dallas agency.
Topics Mergers & Acquisitions Florida
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