People Corp. has acquired Sirius Benefit Plans Inc. for $15 million.
Winnipeg-based Sirius Benefits administers the employee benefit programs for several thousand small- and medium-sized companies across Canada and has relationships with more than 250 third-party brokers.
“The opportunity to add a ‘home-grown’ Winnipeg-based firm to the People Corporation family, with the stature in the small group market and reputation with brokers and clients that Sirius Benefits has, is very exciting for us,” said Laurie Goldberg, executive chair and chief executive officer of People Corp., in a news release.
Goldberg called the acquisition “strategically significant” to its third-party administration business, particularly as it rounds out the small group market.
People Corp. is a Winnipeg-based provider of benefits, group retirement and human resource services.