Brown & Brown Reports Sale Of Certain Third-party Administer Businesses And Enters Into Long-term Strategic Relationship With Davies Group
Portfolio Pulse from Benzinga Newsdesk
Brown & Brown has sold certain third-party administer businesses and entered into a long-term strategic relationship with Davies Group. The sold businesses represent approximately $100 million of annual revenue and the transaction will generate purchase proceeds ranging from $185 million to $205 million.
October 31, 2023 | 9:33 pm
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Brown & Brown's sale of certain businesses and strategic partnership with Davies Group could potentially boost its financial position.
The sale of businesses representing $100 million in annual revenue and the strategic partnership with Davies Group could potentially increase Brown & Brown's financial strength. The transaction will generate purchase proceeds ranging from $185 million to $205 million, which could be used for further investments or to strengthen the company's balance sheet.
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