BFL buys group insurance portfolio of Groupe DCB

The $700,000 acquisition a

BFL Canada Consulting Services Inc. (BFL CSI) has acquired the group insurance portfolio of Groupe DCB for $700,000.

The portfolio encompasses group insurance products for a wide range of business sectors.

“The head office of BFL Canada has been in Montreal since our founding, and the acquisition of key assets from other Quebec-based businesses is a priority for our firm; the initiative we have just taken through BFL CSI is ideally aligned to our philosophy of investing locally,” stated Barry F. Lorenzetti, president, CEO and founder of BFL CANADA, in a press release.

Read: Canadian M&A update

BFL states that that the investment is part of its organic growth strategy and it anticipates a 15% increase in revenues for BFL CSI as a result of the acquisition.

“Not only does this acquisition reflect our growth plan, it also enables us to add depth to our specialized consulting and benefits team, as the transaction sees a number of Groupe DCB employees joining BFL CSI,” said David Vanasse, president of BFL CSI.

“This decision is all the more important because it allows us to advance our cross-selling efforts between BFL Canada and BFL CSI,” added Mr. Vanasse.

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