OVERLAND PARK, Kan., Sept. 27 /PRNewswire-FirstCall/ — Brooke Franchise Corporation, a subsidiary of Brooke Corporation , announces an agreement to acquire 60 insurance agency locations from entities associated with Chicago-based J and P Holdings Inc. The acquisition is expected to close on Sept. 28, 2007 and is subject to typical closing conditions.
The agencies currently sell auto insurance under the trade names of Lone Star Auto, Insurance Xpress, Car Insurance Store, Hallberg Insurance Agency and Hallberg Xpress in Colorado, Illinois, Kansas, Missouri and Texas. The acquired agencies will be converted into Brooke franchises or merged into existing Brooke franchise locations.
“This acquisition is a good geographical fit with our existing franchise locations that specialize in auto insurance sales and provides opportunity for current Brooke franchisees to grow through acquisition,” said Kyle Garst, Brooke Franchise Corporation’s chairman and chief executive officer. “It also increases our franchise location count to approximately 900 locations and additional franchise locations generate additional branding and processing economies of scale.”
About our company … Brooke Franchise Corporation is a subsidiary of Brooke Corporation that distributes insurance and banking services through a network of more than 800 franchise locations. Brooke Franchise was named the country’s No. 37 top franchise by Entrepreneur magazine (2007). For more information, visit http://www.brookeagent.com/.
Contact … Kyle Garst, 913-661-0123 ext. 508, [email protected]
E-mail Distribution … To receive electronic press alerts, visit the Brooke Corporation Media Room at http://brookecorp.mediaroom.com and subscribe to our e-mail alerts online through the Get the News link.
This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties, and several factors could cause actual results to differ materially from those in the forward-looking statements. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: the uncertainty that the Company will successfully complete this acquisition, integrate acquired operations into the Company’s existing business and achieve expected returns from the acquisition, uncertainties associated with market acceptance of and demand for the Company’s products and services, the impact of competitive products and pricing, the dependence on third-party suppliers and their pricing, its ability to meet product demand, the availability of funding sources, the exposure to market risks, uncertainties associated with the development of technology, changes in the law and in economic, political and regulatory environments, changes in management, the dependence on intellectual property rights, the effectiveness of internal controls, and risks and factors described from time to time in reports and registration statements filed by Brooke Corporation with the Securities and Exchange Commission. A more complete description of Brooke’s business is provided in Brooke Corporation’s most recent annual, quarterly and current reports, which are available from Brooke Corporation without charge or at http://www.sec.gov.
Brooke Franchise Corporation
CONTACT: Kyle Garst of Brooke Franchise Corporation, +1-913-661-0123,ext. 508, [email protected]
Web site: http://www.brookeagent.com/http://www.brookecorp.com/