Lamacchia had been in talks with the Sears family for years as he continued his expansion path across New England. The deal was announced this week.
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Anthony Lamacchia announced he’s expanding his brokerage across Massachusetts this week after acquiring the firm owned by National Association of Realtors President Kevin Sears.
Lamacchia Realty picked up the Springfield-based Sears Realty after a years-long pursuit of the business that was welcomed by the Sears family, Lamacchia said.
“For us, it’s more territory, more market share, filling in more gaps in the map,” Lamacchia told Inman. “We’re the fourth largest company in Massachusetts by total sales. We still have gaps in the map. [Springfield] was a big gap.”
Sears Realty was founded in 1971 by Paul Sears, Kevin Sears’ father, who died last month at age 86. The company has deep roots in the region, Sears and Lamacchia said, and the two companies will be co-branded for about a year during a transitional period.
Paul Sears founded the business in the middle of his eight-year stint on the Springfield City Council. Kevin Sears joined him later on.
Lamacchia and the Sears family had been in talks about a potential merger for years, as Lamacchia Realty expanded across New England but realized it had gaps between offices in Worcester and Southington, Connecticut. Talks progressed last year.
“We started talking about this last summer. They went and told their dad at the beginning of September,” Lamacchia said. “They didn’t need his approval; they’re the owners. But I just felt like I wanted him to be OK with it. They got his OK.”
The merger gives Lamacchia Realty a foothold in the third-largest market in New England.
The sale marks another monumental event in a whirlwind year…