Arthur J Gallagher & Co, an insurance brokerage and risk management services firm, has acquired Risk Planners Inc (RPI), a wholly owned subsidiary of Minnesota-based Supervalu Inc.

Established in 1969, RPI is a retail insurance agency offering all forms of risk management and property/casualty insurance products and services to their independent business clients across the US. RPI specializes in commercial insurance coverage for the retail grocery industry.

Arthur J Gallagher said that RPI will continue to operate under the direction of Thomas Gallagher, midwest regional manager of Gallagher’s retail property/casualty brokerage operation.

Arthur J Gallagher & Co chairman, president and CEO Patrick Gallagher said that with over 40 years of experience, RPI is well known for its high quality service and strong carrier relationships.

"Their solid expertise in the retail grocery industry and sales-based culture will be an excellent addition to our niche product and service capabilities. We are extremely pleased to welcome the RPI team to our growing Gallagher family of professionals," Gallagher said.

However, the terms of the transaction were not disclosed.

Arthur J Gallagher & Co with headquarters Illinois, has operations in 16 countries and does business in over 110 countries through a network of correspondent brokers and consultants.