Financial services conglomerate Wells Fargo & Co. acquired the Twin Cities employee benefits operations of regonal CPA and business advisory firm Virchow Krause & Co. Terms were not disclosed.
The practice, which was headed by a four-person team and served roughly 90 clients, will be folded into Wells Fargo's Insurance Services of Minnesota. VK still retains established employee benefits practices in Wausau, Appleton and in its corporate headquarters of Madison, Wis., as well as newer practices in Chicago and Detroit.
A VK representative told WebCPA said that the firm would continue to provide its accounting and specialty services out of its Minneapolis venue.
Virchow Krause ranked No. 15 on Accounting Today's 2007 Top 100 Firms list with revenues of $182.2 million.
