Hub Acquires C.J. McCarthy Agency
The Hub Group Ltd., based in Toronto, has signed a letter of intent to acquire C.J. McCarthy Insurance Agency of Boston, Mass. The agency was founded by the McCarthy family in 1867 and has annual commission revenue of roughly $12 million. Hub Group will issue common shares in partial consideration of the purchase price on closing, subject to regulatory approval. The closing is anticipated to be completed on or about May 15.
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