Hub International Limited reported that the previously announced agreement to purchase the stock of Hooper, Hayes & Associates, Inc. (Hooper), a Los Angeles-based insurance brokerage firm founded in 1946, and Hooper’s wholly-owned employee benefits affiliate, Brentwood Benefits & Consultants, Inc., has been completed.
The transaction was made with a combination of stock and cash. Hooper has annual revenues of about $5.3 million.
Hooper will assume management of Kaye-Western Insurance & Risk Services, Inc., Hub’s existing retail brokerage unit in Arcadia, Calif. This will create Hub’s 10th North American “hub” brokerage center and establish for Hub a West Coast operation in the U.S. from which it can continue to grow its market share within that geographic region.
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