Cross Insurance acquires insurance competitor
The Bangor-based independent insurance provider Cross Insurance announced the acquisition of the Maine insurance agency Sargent, Tyler & West and its Bucksport branch office, the Roland Grindle Insurance Agency.
Terms of the deal were not disclosed.
“The Sargent, Tyler & West office in Bangor is a well-known and long standing agency in the area,” Alice Dyer, vice president of Cross Financial Corp., said in a prepared statement about the acquisition. “We have enjoyed a great competitive relationship over the years and know the agency very well. We plan to merge their accounts with our 491 Main St. office within the next several weeks. The Bucksport office will continue to be managed by Terry Grindle, and remain a separate branch office.”
Since it was founded in 1954, Cross Insurance has acquired more than 100 agencies in New England. Last year it bought Schonning Insurance of Westerly, R.I., for an undisclosed amount.
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