Drewberry Acquired by Brown & Brown to Enhance Employee Benefits Offerings
Deal News | Dec 12, 2024 | PR Newswire Cision Drewberry
Drewberry, an employee benefits specialist founded in 2009 in Brighton and London, has been acquired by Brown & Brown (Europe) Limited, a top insurance brokerage firm. The acquisition allows Drewberry to operate under Premier Choice Group, Brown & Brown's division focused on health, employee benefits, and protection. Co-founders Andrew Jenkinson and Tom Conner will join the leadership team at Premier Choice Group, and Drewberry's staff will remain in their existing roles to maintain service quality. The acquisition aims to leverage Drewberry's technology platform and expertise in workplace pension services and other growth areas, aligning with the strategic vision of Premier Choice Group. While financial terms of the deal were not disclosed, the acquisition underscores the strategic growth of Brown & Brown in the employee benefits market.
Sectors
- Insurance
- Employee Benefits
Geography
- United Kingdom – Drewberry is based in Brighton and London, making the UK a relevant geography.
- Europe – Brown & Brown (Europe) Limited's operations and the newly incorporated Premier Choice Group identify Europe as a broader geographical context.
Industry
- Insurance – The article discusses the acquisition within the insurance sector, where Drewberry provides private medical insurance and Brown & Brown is a leading insurance brokerage.
- Employee Benefits – Drewberry specializes in employee benefits solutions, connecting the acquisition directly to the employee benefits market.
Financials
- Undisclosed – The financial terms of the acquisition deal between Brown & Brown and Drewberry were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Drewberry | Target Company | Company | An employee benefits and financial services provider offering solutions like workplace pension support and private medical insurance. |
| Brown & Brown (Europe) Limited | Bidding Company | Company | An insurance brokerage firm that provides risk management solutions worldwide, acquiring Drewberry. |
| Andrew Jenkinson | Co-Founder and Leadership Team Member | Person | Co-founder of Drewberry, joining Premier Choice Group leadership following the acquisition. |
| Tom Conner | Co-Founder and Leadership Team Member | Person | Co-founder of Drewberry, joining Premier Choice Group leadership following the acquisition. |
| Stephen Hough | Director | Person | Director at Premier Choice Group commenting on the strategic alignment and benefits of the acquisition. |