Arthur J. Gallagher & Co. continues to expand its M&A portfolio with the addition of Shelton & Alderson Insurance Agency, Inc.
The Virginia-based retail agency does business under the name FarmPLUS Insurance Services. It specializes in agricultural and crop insurance coverages, serving clients across Virginia, North Carolina, and South Carolina.
With the acquisition, the FarmPLUS team, including founders Tim Alderson and Amy Alderson, will remain in their current location in Blairs. They will operate under the guidance of Bumpy Triche, who leads Gallagher’s Southeast retail property/casualty brokerage operations.
Chairman and CEO J. Patrick Gallagher, Jr. commented on the deal in a new release, stating that the addition of FarmPLUS will expand Gallagher’s agricultural market capabilities.
“I am delighted to welcome Tim, Amy and their associates to Gallagher,” he added.
Gallagher maintains a presence in approximately 130 countries. It has announced several acquisitions since the beginning of the year, including Ericson Insurance Advisors in Connecticut and Horak Insurance in Iowa. Its US wholesale brokerage, binding authority and programs division, Risk Placement Services, also recently acquired the Louisiana firm Forest Insurance Facilities.
In other recent news, the broking giant revealed in January its fourth quarter results for 2023. It reported revenues of $2.05 billion compared to $1.7 billion in the same period of the previous year.
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