(March 30 – 10:05 ET) – Insurance brokerage consolidator, the Hub Group Ltd., is buying a venerable Boston-based firm.
The Hub Group has signed a letter of intent to acquire C.J. McCarthy Insurance Agency Inc. of Boston for an undisclosed sum, to be paid by a mix of shares and cash. It hopes to close the deal by May 15.
The Hub Group says the McCarthy agency was founded in 1867. It currently reports annual commission revenue of about US$12 million.
-IE Staff
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