Reading, Pennsylvania, October 9, 2025
News Summary
Cherry Bekaert, a Raleigh-based accounting firm, is set to acquire Herbein + Company, a leading CPA advisory firm located in Reading, Pennsylvania. This acquisition, expected to close in late October, marks Cherry Bekaert’s first expansion into Pennsylvania and will enhance its operations throughout the northeastern and mid-Atlantic regions. With a robust revenue increase, this strategic move aligns with Cherry Bekaert’s goal to broaden its client base and service offerings across various industries.
Cherry Bekaert to Acquire Herbein + Company, Expanding Presence in Pennsylvania
Cherry Bekaert, a Raleigh, North Carolina-based accounting firm, is set to acquire Herbein + Company Inc., a CPA advisory firm headquartered in Reading, Pennsylvania. This acquisition is slated to close later in October 2025, marking a significant milestone as it represents Cherry Bekaert’s inaugural expansion into Pennsylvania. The precise financial terms of the deal have not been disclosed.
Herbein + Company is recognized as a top 100 firm on INSIDE Public Accounting’s list and boasts extensive experience across various sectors including agribusiness, construction, financial institutions, manufacturing, higher education, and government. Operating from its headquarters in Reading, Pennsylvania, Herbein has additional offices throughout the state, as well as in Delaware and New Jersey.
This acquisition is poised to enhance Cherry Bekaert’s connectivity across the northeastern, mid-Atlantic, and midwestern regions. With Herbein’s diverse client base encompassing family-owned businesses, private equity, business enterprises, and privately held businesses, the deal aligns well with Cherry Bekaert’s existing clientele.
Cherry Bekaert’s CEO of Advisory LLC noted that the acquisition will enrich service offerings across key industries while strengthening the firm’s regional presence. Similarly, the CEO of Herbein expressed enthusiasm about the acquisition and assured clients that they will continue to receive high-quality service throughout the transition.
This transaction consists of two distinct acquisitions: Cherry Bekaert Advisory LLC will be acquiring Herbein’s nonattest assets, and Cherry Bekaert LLP will acquire Herbein’s attest assets. The integration of both firms is designed to be seamless, ensuring that high service standards are preserved. Following the acquisition, the unified team will operate under the Cherry Bekaert brand.
In terms of growth, Cherry Bekaert ranks No. 20 among Accounting Today’s Top 100 Firms, achieving remarkable revenues of $660 million. The firm operates 47 offices, employs 183 partners, and has over 2,600 staff members. On the other hand, Herbein reported revenues of $60.2 million, with a footprint including 12 offices, 45 partners, and nearly 400 employees.
This acquisition is part of Cherry Bekaert’s merger and acquisition (M&A) strategy, a plan that has been accelerated by its partnership with private equity firm Parthenon Capital in 2022. Recent acquisitions in Cherry Bekaert’s M&A journey include firms such as Jameson in Massachusetts and Spicer Jeffries in Denver, creating a more robust and expansive network for the firm.
Key Features of the Acquisition
| Feature | Details |
|---|---|
| Acquiring Firm | Cherry Bekaert |
| Target Firm | Herbein + Company Inc. |
| Deal Closing Date | October 2025 |
| Herbein Revenue | $60.2 million |
| Cherry Bekaert Revenue | $660 million |
| Number of Cherry Bekaert Offices | 47 |
| Number of Herbein Offices | 12 |
| Cherry Bekaert Partners | 183 |
| Herbein Partners | 45 |
Frequently Asked Questions
What is the reason for Cherry Bekaert’s acquisition of Herbein + Company?
The acquisition marks Cherry Bekaert’s inaugural expansion into Pennsylvania and is expected to enhance service offerings across key industries.
When is the acquisition expected to close?
The acquisition is expected to close later in October 2025.
What are the revenue figures for both firms involved in the acquisition?
Herbein reported $60.2 million in revenue, while Cherry Bekaert reported $660 million in revenue.
Where are Herbein’s offices located?
Herbein is headquartered in Reading, Pennsylvania, with additional offices throughout Pennsylvania, as well as in Delaware and New Jersey.
What does this acquisition mean for the clients of both firms?
Clients will continue to receive high-quality service, with the integration of both firms designed to be seamless.
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Deeper Dive: News & Info About This Topic
Additional Resources
- Accounting Today: Cherry Bekaert to Enter Pennsylvania with Herbein Deal
- Wikipedia: Accounting
- CPA Practice Advisor: Cherry Bekaert to Acquire Herbein + Company
- Google Search: Cherry Bekaert Herbein
- Lehigh Valley Business: Herbein to be Acquired by North Carolina Firm
- Google Scholar: Cherry Bekaert acquisition
- The Reporter Online: Herbein Co. Inc. to be Acquired
- Encyclopedia Britannica: Accounting
- Inside Public Accounting: IPA Top 500 Firms
- Google News: Accounting Firms Acquisitions
Author: Construction CA News
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