POE & ASSOCIATES ANNOUNCES AGREEMENT IN PRINCIPLE TO ACQUIRE LEVINSON BROS., INC.
POE & ASSOCIATES ANNOUNCES AGREEMENT IN PRINCIPLE TO ACQUIRE LEVINSON BROS., INC. TAMPA, Fla., July 23 /PRNewswire/ -- William F. Poe, chairman and CEO of Poe & Associates, Inc. (NASDAQ-NMS: POEA) of Tampa, and Fred Levinson, president of Levinson Bros., Inc., of San Francisco, today announced that the two companies have agreed in principle to the acquisition of Levinson Bros. by Poe. Closing is expected in the next 60 days. Levinson Bros. is one of Northern California's premier commercial and property/casualty insurance agencies. The firm is an acknowledged leader in providing a wide range of insurance services to a broad spectrum of industries. Mr. Poe commented: "We are pleased to have Fred, Mort and David Levinson and their staff of insurance professionals as part of Poe's growing presence in California. The resources of this 36-year-old organization provide us with substantial new strength in this dynamic market." Fred Levinson stated that, "This merger provides us with a new, strong resource with which to even better serve current customers and assist us in entering new arenas." Bernard H. Mizel, Poe executive vice president responsible for the Western U.S., noted, "We are extremely pleased to have Levinson Bros. and its staff as an integral part of the company." Fred Levinson will continue as president of Levinson Bros., Inc. which will operate as a wholly owned subsidiary of Poe & Associates. Poe & Associates, Inc., a general insurance agency headquartered in Tampa, is among the nation's leading independent insurance agency organizations. The company has offices throughout Florida, and in Arizona, California, Colorado, Connecticut, Georgia, New Jersey, North Carolina and Texas. -0- 7/23/92 /CONTACT: William F. Poe, chairman of the board of Poe & Associates, 813-222-4100/ (POEA) CO: Poe & Associates, Inc.; Levinson Bros., Inc. ST: Florida, California IN: INS SU: TNM
BN-BR -- AT021 -- 2738 07/23/92 16:58 EDT
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|Date:||Jul 23, 1992|
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