Anthony Clark expands into the U.S.

Anthony Clark International Insurance Brokers Ltd. (TSX: ACL) has acquired the assets and book of business of San Francisco-based Vista International Insurance Brokers. The purchase, which involved an undisclosed amount of cash and “seller financing”, was completed between an Anthony Clark subsidiary, Addison York Insurance Brokers Ltd., and Vista’s former family owners represented by DKWS Enterprises Inc. and the Kabaker Family Trust. The acquisition of Vista marks Anthony Clark’s initial expansion into the U.S. insurance marketplace, according to a company statement.Vista is expected to generate about $4 million (US$3 million) in annual revenue for Anthony Clark, thereby boosting the brokerage’s revenue volume by 75% over the amount disclosed in the company’s financial statement for the year ended March 2003, a statement says. John Kabaker, the former head and founder of Vista, will become the president of Addison York.