---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-102316"
form_type: "8-K"
ticker: "BRO"
cik: "0000079282"
company_name: "BROWN & BROWN, INC."
filed_at: "2025-08-05T23:59:59+00:00"
generated_at: "2026-05-17T21:11:11.778926+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Brown & Brown closes $9.825B acquisition of Accession Risk Management Group

## Summary
- Total purchase price $9.825B; net merger consideration ~$4.7B ($3.5B cash + $1.2B stock).
- Stock consideration valued at $110.57 per share; unregistered shares issued under private placement.
- Lock-up: 20% released on 2nd, 3rd, 4th anniversaries; 40% on 5th anniversary.
- Accession includes Risk Strategies and One80 Intermediaries brands.

## SEC filing metadata
- accession: 0000950170-25-102316
- form_type: 8-K
- ticker: BRO
- cik: 0000079282
- company_name: BROWN & BROWN, INC.
- filed_at: 2025-08-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/79282/000095017025102316/0000950170-25-102316-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/79282/000095017025102316/bro-20250801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-102316
- JSON: https://secwatch.observer/filing/0000950170-25-102316.json
- Plain text: https://secwatch.observer/filing/0000950170-25-102316.txt

## Key facts
- M&A Transactions
  BROWN & BROWN, INC. completed an acquisition involving RSC Topco, Inc. for $9.825 billion (closed 2025-08-01).
  - Action: acquisition
  - Counterparty: RSC Topco, Inc.
  - Consideration: $9.825 billion
  - Closing: 2025-08-01
  source text: On August 1, 2025, Brown & Brown, Inc., a Florida corporation (the “Company”), completed its previously announced acquisition of RSC Topco, Inc., a Delaware corporation (“RSC”), pursuant to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of June 10, 2025, by and among RSC, the Company, Encore Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), and Kelso RSC (Investor), L.P., a Delaware limited partnership, solely in its capacity as the equityholder representative (the “Kelso Investor”), pursuant to which the Company acquired RSC for an aggregate purchase price of $9.825 billion, paid at the closing of the Merger (the “Closing”), subject to certain customary post-Closing adjustments as set forth in the Merger Agreement (the “Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/79282/000095017025102316/0000950170-25-102316-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.