Cross acquires another Maine-based agency, Merchant, Needham & Associates

Cross Insurance, a subsidiary of Cross Financial Corp., announced its acquisition of Northeast Harbor, Maine-based insurance agency Merchant, Needham & Associates Insurance.

The terms of the transaction were not disclosed.

Merchant, Needham & Associates will operate as a member of the Cross Insurance family but will retain both its name and nine-member staff, the Bangor, Maine-based insurance agency announced in a statement Monday.

Merchant, Needham & Associates specializes in a variety of business, home, and vehicle insurance offerings for customers throughout Hancock, Washington, Penobscot and Knox counties in Maine, according to the statement.

“This partnership with Cross Insurance will allow us to offer products and services to our clientele never before available to us,” Randy Merchant, owner of Merchant, Needham & Associates, said in the statement.