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Berkshire Hathaway unit buys Prudential Fox & Roach.

M2 EQUITYBITES-August 15, 2013-Berkshire Hathaway unit buys Prudential Fox & Roach(C)2013 M2 COMMUNICATIONS

15 August 2013 - US residential real estate broker HomeServices of America Inc, part of Berkshire Hathaway Inc (NYSE:BRK.A) has bought Prudential Fox & Roach Realtors and its unit The Trident Group for an undisclosed price.

Philadelphia-based Prudential Fox & Roach has over 4,000 sale associates at 62 offices across Pennsylvania, New Jersey and Delaware. Last year, the broker had more than USD8.3bn (EUR6.2bn) in sales volume and almost 25,000 transactions.

Through the Trident Group, comprising Trident Mortgage Company, Trident Insurance and Trident Land Transfer Company, the brokerage group offers one-stop shopping to clients, including mortgage financing, title insurance, escrow services and property and casualty insurance.

Prudential Fox & Roach will transition to the new Berkshire Hathaway HomeServices franchise brand this fall, the buyer said.

With this deal, HomeServices of America expands in the mid-Atlantic and steps into the Tri-State region of Pennsylvania, New Jersey and Delaware, it said. Following this acquisition, the buyer has 30 brands and over 21,000 property professionals operating in 24 US states.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U2PA
Date:Aug 15, 2013
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