CHICAGO, IL & IRVINE, CA - Our ears perk up at the word “acquisition,” so this morning’s news from Western Growers (WG) was certainly of interest. It was announced that Hub International Limited has acquired the retail insurance brokerage business of Western Growers Insurance Services (WGIS). The deal will enhance Hub’s services in the agribusiness industry and better position WGIS for long-term growth.
“Not only does Hub offer expanded scale and capabilities for WGIS, Hub also has a deep understanding of the agriculture industry. This transaction allows WGIS to focus on its core services while also providing industry-leading services and capabilities to our members and clients, both in employee benefits and commercial lines,” said Dave Puglia, President and Chief Executive Officer of WG.
With 10 offices located in California and Arizona, WGIS provides full-service risk mitigation and management solutions, including insurance products and employee benefits. Their focus on the agribusiness and farm industry supports Hub’s Specialty practices by complementing and strengthening its existing capabilities, a press release stated.
Jeff Gullickson, President of WGIS; Jodi Martin, Director and Employee Benefits Leader; Natalie Berend, Senior Director and P&C Leader; Ken Cooper, Director of Operations and Risk Strategy Leader; and the WGIS team will join Hub CNC. Gullickson will become head of the Agribusiness practice in the region and will continue to serve in his position as President of WGIS following the transaction.
“We are excited to welcome the WGIS team to Hub,” said Darren Caesar, CEO of Hub Central and Northern California. “California is one of the largest agricultural markets in the country, and WGIS’ depth of knowledge and experience will bolster our offerings to clients in this key industry.”
As a result of the transaction, WGIS’ current clients will gain access to a wider variety of insurance solutions while maintaining a strong connection with best-in-class regional expertise in the agriculture and food space.
MarshBerry served as an advisor to WG. Terms of the transaction were not disclosed.
As more acquisition news comes across our desks, ANUK will be sure to report.
