Bike broker Bennetts changes hands again as Hagerty swoops
Michigan-headquartered New York Stock Exchange listed Hagerty has signed up to buy motorbike specialist broker Bennetts from Lucida Group for £34m.
The deal, expected to close in the third quarter of this year, will see Bennetts become part of Hagerty UK.
Collector car insurance experts Hagerty has been in operation for over 40 years (including 20 in the UK) and currently protects 2.9m vehicles in the United States, Canada and the UK.
Snapping up Bennetts will triple Hagerty’s UK revenue to approximately £25m.
Bennetts was bought by Lucida (then named Right Choice) in 2021. That deal came hard on the heels of Ardonagh buying Bennetts in 2020
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