Reich Insurance has announced it will be expanding its operation by taking over fellow Manchester-based broker Tidey.

The deal, struck on January 18th, will immediately swell the income of the Reich group to £48 million.

Tidey, which has offices close to Reich in Manchester, intends to transfer its complement of 15 staff to a building it can share with its new owner in the near future.

Andrew Tidey will continue as a director although his company will in effect be swallowed up the Reich group.

Commenting on the deal, Reich partner Simon Taylor told Post magazine: "This acquisition will further strengthen our insurance offer, and bring increased expertise particularly in commercial and personal insurance lines.

"The synergy between our two companies will be evident in the coming months."

Reich, ranked the largest independent insurance brokers in the UK, primarily specialising in property investor insurance, intends to continue with its expansion plans.

Expansion and Reich - sounds faintly familiar.

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