Add-on Acquisition • Insurance

Brown & Brown Acquires The Canopy Group

On October 3, 2024, Brown & Brown acquired insurance company The Canopy Group

Acquisition Context
  • This is Brown & Brown’s 97th transaction in the Insurance sector.
  • This is Brown & Brown’s 103rd transaction in the United States.
  • This is Brown & Brown’s 7th transaction in Minnesota.

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M&A Deal Summary

Date October 3, 2024
Target The Canopy Group
Sector Insurance
Buyer(s) Brown & Brown
Deal Type Add-on Acquisition

Target Company

The Canopy Group

Belle Plaine, Minnesota, United States
The Canopy Group is a multiline insurance agency focusing primarily on personal lines and commercial property and casualty for small businesses. The Canopy Group is based in Le Sueur, Minnesota.
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Buyer Overview 1

Buyer

Brown & Brown

Daytona Beach, Florida, United States

Category Company
Founded 1939
Sector Insurance
Employees16,152
Revenue 4.7B USD (2024)
DESCRIPTION
Brown & Brown's headquarters in Daytona Beach, Florida.
Brown & Brown's headquarters in Daytona Beach, Florida.

Brown & Brown provides insurance and reinsurance products and services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association, and individual clients. Brown & Brown was founded in 1939 and is based in Daytona Beach, Florida.


Deal Context for Buyer #
Overall 109 of 111
Sector: Insurance 97 of 98
Type: Add-on Acquisition 105 of 107
State: Minnesota 7 of 7
Country: United States 103 of 105
Year: 2024 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-29 Quintes

Waardenburg, Netherlands

Quintes is an insurance & pension broker and MGA operating nationwide in the Netherlands working with subsidiaries Quintes, Commandeur, Kroezen, Deugd & Terpstra, Timmermans Koch en Brink, Beijer, Plus Diensten and Wiersma & Walvius. Quintes was founded in 2012 and is based in Waardenburg, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-10 Accession Risk Management Group

Sacramento, California, United States

Accession Risk Management Group is a provider of specialty insurance and risk management services. Accession Risk Management Group is based in Sacramento, California.

Buy $9.8B