Arthur J. Gallagher & Co. Acquires Fontenelle & Goodreau Insurance, LLC; Terms Of The Transaction Were Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Arthur J. Gallagher & Co. has acquired Fontenelle & Goodreau Insurance, LLC, a Louisiana-based agency specializing in commercial property/casualty coverages, particularly for large apartment accounts. The terms of the acquisition were not disclosed. The Fontenelle & Goodreau team will continue operating in their current location under Gallagher's Southeast retail property/casualty brokerage operations, led by Bumpy Triche.
April 18, 2024 | 1:09 pm
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Arthur J. Gallagher & Co.'s acquisition of Fontenelle & Goodreau Insurance, LLC expands its commercial property/casualty coverage capabilities, particularly in the real estate sector.
The acquisition of Fontenelle & Goodreau Insurance by Arthur J. Gallagher & Co. is likely to have a positive short-term impact on AJG's stock price. This move not only expands Gallagher's portfolio in the commercial property/casualty insurance sector but also strengthens its presence in the Louisiana market and potentially nationwide, given Fontenelle & Goodreau's capabilities. Such strategic acquisitions are generally viewed positively by the market as they indicate growth and expansion.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90