BB&T Insurance Services of Raleigh has a deal to acquire Sidney O. Smith Inc., a Gainesville, Ga., insurance agency.
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Sidney O. Smith provides commercial and personal property/casualty coverage to 17,000 clients and has offices in Gainesville and Alpharetta, Ga. The acquisition would expand the BB&T Corp. insurance arm into metropolitan Atlanta and northern Georgia.
The deal, announced Friday, is expected to close next month. The price was not disclosed. Sidney O. Smith's Alpharetta office would merge with BB&T's Alpharetta agency, BB&T-Huffines Russell.
Sidney O. Smith, who was the first licensed insurance agent in Georgia, founded the agency that bears his name in 1916.
