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Hagerty to Acquire Bennetts for $45.5 Million
Hagerty (HGTY) signed a definitive deal to acquire specialty motorcycle insurance broker Bennetts from Lucida Group for 34 million British pounds ($45.5 million), the car insurance provider said Thursday.The acquisition will expand Hagerty's international footprint and is estimated to be immediately accretive, eventually tripling Hagerty's UK revenue to about 25 million pounds, the company said.Closing is expected in Q3, subject to regulatory approval, Hagerty added.Price: $12.06, Change: $+0.14, Percent Change: +1.17%
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