Insurance benefits firm forecasts 20% revenue growth with acquisition

A benefits firm in Sarasota announced an acquisition that is expected to grow the business 20%. 

Benefits and Planning Inc., which does business as Professional Benefits, will officially acquire Sarasota-based Lisa M. Parker Insurance Inc. on Oct. 1. Through the acquisition, Parker, the founder, is able to retire after 30 years in the insurance business, according to a statement. 

Taylor Collins, owner of Professional Benefits, declined to disclose the financial details of the acquisition, but notes it will grow the firm's revenue by 20%. Both businesses specialize in small group benefits and individual executive benefit planning, the press release states.