Brown & Brown, Inc. Announces Acquisition of Profits

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DAYTONA BEACH, Fla., June 08, 2022 (GLOBE NEWSWIRE) — J. Scott Penny, Chief Acquisition Officer of Brown & Brown, Inc. (NYSE: BRO), and Gerry White, owner of Profits Creation Corp. (“Profits Creation”), today announced that Brown & Brown Dealer Services (“BBDS”) has acquired substantially all of the assets of Profits Creation.

Profits Creation provides F&I products and sales support to auto dealerships in the Southeast. Following the transaction, Gerry and the Profits Creation team will become part of BBDS, operating under the leadership of Mike Neal.

Mike said, “Gerry and his team are great additions to our BBDS operations; adding deep industry knowledge and experience enhances our abilities to deliver solutions that can improve dealer results. We look forward to continued growth and success in the South East with Profits Creation joining BBDS.

Gerry said, “After being an independent entrepreneur and businessman for many years, changing my business model in the current car dealership industry environment was a tough decision. Brown & Brown has exceeded my expectations and proven to be the right partner for my business and my team members. We are very pleased to be part of Brown & Brown and look forward to continued combined growth.

About Brown & Brown, Inc.

Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage, providing risk management solutions to individuals and businesses since 1939. With more than 12,000 teammates in more than 350 locations in the United States and select global markets, we are committed to providing innovative strategies to help protect what our customers value most. For more information, visit bbinsurance.com.

This press release may contain certain statements regarding future results that are forward-looking statements, including those related to this acquisition. These statements are not historical facts but rather represent Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and beyond Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information regarding Brown & Brown and its business, including factors that could materially affect Brown & Brown’s financial results and condition, and its other achievements, can be found in Brown & Brown’s filings with the Securities and Exchange Commission. These factors include factors relevant to Brown & Brown’s completion and integration of the announced acquisition, including any matters analyzed as part of the due diligence process, and material adverse changes in the business and financial condition of the seller. , the buyer or both, and their respective customers. Any forward-looking statements made herein are made only as of the date of this release, and Brown & Brown undertakes no obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that occur subsequently or which Brown & Brown Brown subsequently becomes aware of.

For more information:

R. Andrew Watts
Financial director
(386) 239-5770

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