Insurance broker Arachas has today announced the acquisition of the general insurance business of Tipperary-based Tom Fogarty Insurance brokers for an undisclosed sum.
Today's deal marks the second major investment in Tipperary by Arachas after acquiring O'Donoghue Hooper Dolan in 2020.
Aracha, which has over 700 employees at 15 offices located throughout the country, provides insurance products for businesses and consumers with motor and home insurance around the country.
Tom Fogarty Insurance Brokers has for over 60 years operated from offices in Tipperary town and caters for the personal and medium sized business market specialising mainly in farm, home, shop, office and business insurance.
Speaking on behalf of Tom Fogarty Insurance, Michael Fogarty said that the company's staff will transfer directly to Arachas and it will be very much business as usual whereby its customers can continue to deal directly with the same staff and they will now have access to a much wider range of insurance products as well.
Joey Wynne, Arachas CEO, said the company is continuing to strengthen its regional presence throughout Ireland, engaging with brokers, who are keen to leave their fine businesses in our safe hands.
"They go on to thrive, as part of the Arachas family, thanks to our unique integration capabilities. Like in this case, with Fogarty Insurance in Tipperary, I am delighted to continue this tradition, where the fit is right from a cultural and business perspective," he added.
