NU Online News Service, March 8, 3:01 p.m. EST
Itasca, Ill.-based insurance broker Arthur J. Gallagher & Co. said it has acquired Risk Planners, Inc., a wholly owned subsidiary of SUPERVALU INC., a grocery store chain in Eden Prairie, Minn.
Financial terms of the transaction were not released.
Formed in 1969, Risk Planners, Inc. (RPI) is a retail insurance agency offering all forms of risk management and property and casualty insurance products and services to independent business clients throughout the United States. The firm specializes in commercial insurance coverage for the retail grocery industry.
RPI, with approximately 35 associates, will continue to operate under the direction of Thomas J. Gallagher, Midwest regional manager of Gallagher's retail p&c brokerage operation.
“With over 40 years of experience, RPI is well known for its high quality service and strong carrier relationships,” said J. Patrick Gallagher, Jr., chairman, president and chief executive officer of AJG in a statement. “Their solid expertise in the retail grocery industry and sales-based culture will be an excellent addition to our niche product and service capabilities.”
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