Arthur J. Gallagher & Co. is acquiring BCHR Holdings — also known as Buck — for US$660 million.
Through the agreement, Gallagher will expand its retirement, benefits and human resources consulting services in Canada, the U.S. and the U.K., according to a press release, which noted Buck currently has 2,300 employees across these markets.
“Through the complementary strengths of Buck’s defined benefit [pension] offerings, investment consulting, digital employee engagement platform and international footprint, the acquisition will broaden, deepen and enhance our client offerings,” said J. Patrick Gallagher Jr., chairman, president and chief executive officer at Gallagher, in the release. “I look forward to welcoming the 2,300 new colleagues joining us as part of this transaction to our growing Gallagher family of professionals.”
The transaction is expected to close during the first half of 2023, subject to customary regulatory approvals.