Arthur J. Gallagher & Co. AJG recently acquired R&R Benefits/Risk Management, LLC. The terms of the transaction were not disclosed.South Bend, IN-based R&R Benefits/Risk Management, LLC, founded in 2000, is an independent agency that works with a wide range of carriers in order to provide the best products for clients’ insurance and employee benefits programs. It also offers property/casualty risk placements in the traditional and alternative risk financing market.We believe R&R Benefits is a strategic fit for Arthur J. Gallagher. This is because the buyout will strengthen and expand the acquirer’s capabilities throughout Northern Indiana.Inorganic Growth StoryAcquisitions enable Arthur J. Gallagher to expand into desirable geographic locations, extend its presence in retail and wholesale insurance and reinsurance brokerage services markets, and increase the volume of general services currently provided. Its inorganic pipeline remains strong, with around $300 million of annualized revenues associated with 30 term sheets signed or being prepared.Arthur J. Gallagher currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In 2020, the insurance broker completed 27 mergers, representing about $250 million of estimated annualized revenues. So far this year, it has made six acquisitions. Revenue growth rates have generally been 2.5-15% for 2020 acquisitions. The buyouts provide the company with incremental capabilities and services to assist clients across Australia, the U.K., Europe and the United States. The company remains focused on its long-term growth strategies of delivering organic revenue growth, and pursuing mergers and acquisitions.Other Acquisitions in the Same SpaceThere have been a host of acquisitions in the insurance space of late, given significant capital availability. Assurant AIZ acquired TRYGLE Co. Ltd. to maximize the daily usage of mobile devices, electronics and home appliances. In the first quarter of 2021, Brown & Brown, Inc.’s BRO subsidiary, Brown & Brown of Ohio, LLC acquired substantially all Berry Insurance Group assets as well as O’Leary Insurances. Marsh & McLennan Companies, Inc.’s MMC unit Marsh & McLennan Agency LLC (MMA) recently acquired Compass Financial Partners, a Greensboro, NC-based retirement consulting and investment advisory company.Price PerformanceShares of Arthur J. Gallagher have gained 58.7% in a year, outperforming the industry’s increase of 32%. Efforts to ramp up the company’s growth profile and capital position should help shares gain further.Time to Invest in Legal MarijuanaIf you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marsh & McLennan Companies, Inc. (MMC): Free Stock Analysis Report Assurant, Inc. (AIZ): Free Stock Analysis Report Arthur J. Gallagher & Co. (AJG): Free Stock Analysis Report Brown & Brown, Inc. (BRO): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research