US-based personal lines insurance distributor Confie has purchased Estrella Insurance, a property/casualty insurance franchisor headquartered in Miami, Florida.
The deal consideration was not disclosed.
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With more than 190 offices across the US, Estrella will now join Confie’s Freeway Insurance division, which offers franchising opportunities to entrepreneurs.
The franchisor will retain its existing brand, with all its employees moving to Confie as part of the deal.
Estrella’s product suite covers life, health, commercial, business, auto, and home.
In addition to Florida, the business has a presence in California, Arizona, Texas, and Colorado.
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By GlobalDataEstrella CEO Nick Estrella Jr called Confie a ‘perfect fit’.
He stated: “It was important to find the right partner that would support both our brand, customers and our growth plan. Confie is a highly respected organisation with years of industry knowledge and forward momentum.”
The purchase is said to bolster Confie’s reach in Florida and its franchise division.
Confie CEO Cesar Soriano said: “Estrella has built a strong franchising model well-known among Hispanic consumers, and business owners alike. We are excited to welcome them into our ever-growing family.
“Franchising allows us to broaden our customer reach, and accelerate our growth into new markets. Americans are entrepreneurial by nature and we proudly will offer them the choice between three trustworthy brands.”
Confie has more than 750 retail locations across 23 states. The latest deal continues the company’s series of acquisitions.
In December 2021, Confie bought Velox Insurance, which mainly provides franchising to business owners in Georgia.
The firm acquired Colorado-based CoWest Insurance Group last year.
