Brown & Brown, Inc. Announces the Asset Acquisition of Debock & Muth Insurance Agency, Inc.
May 30 2008 - 4:20PM
Marketwired
DAYTONA BEACH, FL and TAMPA, FL , and James A Muth, President of
Debock & Muth Insurance Agency, Inc., of Stockton, California,
announce the asset acquisition of Debock & Muth Insurance
Agency, Inc. by a subsidiary of Brown & Brown, Inc.
Debock & Muth Insurance Agency, Inc., with annualized
revenues of approximately $1.7 million, focuses on property &
casualty insurance for individuals and businesses in central
California and throughout the United States. James Muth and his
associates will continue to operate from their existing location in
Stockton, California as a freestanding Brown & Brown profit
center.
Mr. Paschke stated, "We are extremely pleased to add Jim and his
staff to our growing presence in central California. This team of
talented insurance professionals will provide us with new resources
and services capabilities for our clients throughout the Golden
State."
Brown & Brown, Inc. and its subsidiaries offer a broad range
of insurance and reinsurance products and services, as well as risk
management, third party administration, managed health care, and
Medicare set-aside services and programs. Providing service to
business, public entity, individual, trade and professional
association clients nationwide, the Company is ranked by Business
Insurance magazine as the sixth largest independent insurance
intermediary in the United States, as well as the World. The
Company's Web address is www.bbinsurance.com.
This press release may contain certain statements relating to
future results which are forward-looking statements, including
those associated with this acquisition. These statements are not
historical facts, but instead represent only the Company's current
belief regarding future events, many of which, by their nature, are
inherently uncertain and outside of the Company's control. It is
possible that the Company's actual results and financial condition
may differ, possibly materially, from the anticipated results and
financial condition indicated in these forward-looking statements.
Further information concerning the Company and its business,
including factors that potentially could materially affect the
Company's financial results and condition, as well as its other
achievements, are contained in the Company's filings with the
Securities and Exchange Commission. Some factors include those
factors relevant to Brown & Brown's consummation and
integration of the announced acquisition, including any matters
analyzed in the due diligence process, material adverse changes in
the customers of the company whose operations are being acquired
and material adverse changes in the business and financial
condition of either or both companies and their respective
customers. All forward-looking statements made herein are made only
as of the date of this release, and the Company does not undertake
any obligation to publicly update or correct any forward-looking
statements to reflect events or circumstances that subsequently
occur or of which the Company hereafter becomes aware.
Contact: Cory T. Walker Chief Financial Officer (386)
239-7250
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