Gallagher buys pharmacy specialist

Arthur J. Gallagher & Co. said Monday it has acquired Rosenzweig Insurance Agency Inc., a Mineola, New York-based brokerage with pharmacy expertise.

Terms of the transaction were not disclosed.

Rosenzweig, with about 20 employees, places coverage for small and medium-sized businesses and individuals across the U.S.

Larry Rosenzweig, president; Lynn Rosenzweig Derby, vice president; and the brokerage’s staff will remain in their current location and operate as part of Gallagher Agency Alliance under the direction of Jen Tadin, managing director of Gallagher’s global small business practice.

Gallagher Agency Alliance is a newly launched mergers and acquisitions model targeting agencies that specialize in small-business property/casualty insurance and employee benefits, Gallagher said in a statement.