Brown & Brown To Acquire Pacific Resources

(RTTNews) - Brown & Brown, Inc. (BRO) said Thursday that a subsidiary of the company has entered into an asset purchase agreement to acquire substantially all of the operating assets of Pacific Resources Benefits Advisors, LLC.

The deal is expected to close in May.

Over the past 30 years, Pacific Resources Benefits Advisors has become a leading independent employee benefits advisory firm working with Fortune-ranked and other large companies. It had total annual net revenues of $22.7 million for 2013.

Pacific Resources is currently owned by its executive leaders, Paul Barden, CEO, and Paul Rogers, President and COO.

The PacRes assets will continue to be operated out of the existing headquarters of PacRes located in Chicago, Illinois, under the leadership of Paul Barden and Paul Rogers, who will report to Mike Crowe, Senior Vice President, B&B Services & Acquisitions.