| Brooke unit buys 60 insurance agency locations from Chicago firm
Brooke Franchise Corp. today said it its buying 60 insurance agency locations associated with J and P Holdings Inc. of Chicago. Brooke Franchise, a subsidiary of Overland Park-based Brooke Corp., said the acquisition is expected to close Friday. No financial terms were disclosed. In a news release, Brooke Franchise said the agencies sell auto insurance under the trade names of Lone Star Auto, Insurance Xpress, Car Insurance Store, Hallberg Insurance Agency and Hallberg Xpress in Kansas, Missouri, Colorado, Illinois and Texas. The acquired agencies will be converted into Brooke franchises or merged into existing Brooke franchise locations. The company said the deal boosts its franchise locations to about 900. "This acquisition is a good geographical fit with our existing franchise locations that specialize in auto insurance sales and provides opportunity for current Brooke franchisees to grow through acquisition," said Kyle Garst, Brooke Franchise's chairman and chief executive officer.
Russ Darrow acquires Renner Kia and Mitsubishi franchises
The Russ Darrow Automotive Group has acquired the Renner Kia and Mitsubishi franchises of Wauwatosa The moves strengthen Darrow's position as the No. 1 Kia dealer in Wisconsin. Mitsubishi is a new brand for the Darrow family, which now has 15 separate franchises among its 18 dealership locations. The Renner Kia and Mitsubishi franchises had been operational on North Mayfair Road. Darrow announced that both of the newly-acquired Kia and Mitsubishi franchises will be relocated into its existing Darrow dealership location at 1901 N. Mayfair Road, also in Wauwatosa. "We are excited about this acquisition of another Kia franchise, which has been proven to be a strong brand for us," said Russ Darrow, chairman and chief executive officer of the Russ Darrow Automotive Group. "And landing our first Mitsubishi franchise gives us a tremendous opportunity to sell the full line o f the high-quality, popular Mitsubishi autos, SUVs, the Mitsubishi Raider truck and the super sporty Eclipse Spyder as well.
Brooke Franchise Corp. to Acquire Chicago Area Agency Network
Brooke Franchise Corp., a subsidiary of Brooke Corp. recently announced an agreement to acquire 60 insurance agency locations from entities associated with Chicago-based J and P Holdings Inc. The acquisition is expected to close on Sept. 28, 2007 and is subject to typical closing conditions. The agencies currently sell auto insurance under the trade names of Lone Star Auto, Insurance Xpress, Car Insurance Store, Hallberg Insurance Agency and Hallberg Xpress in Colorado, Illinois, Kansas, Missouri and Texas. The acquired agencies will be converted into Brooke franchises or merged into existing Brooke franchise locations. "This acquisition is a good geographical fit with our existing franchise locations that specialize in auto insurance sales and provides opportunity for current Brooke franchisees to grow through acquisition," said Kyle Garst, Brooke Franchise Corp.'s chairman and chief executive officer.
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