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 Set to Acquire Herbein + Company, Marking Expansion into Pennsylvania
Cherry Bekaert, a prominent accounting firm based in Raleigh, North Carolina, has announced plans to acquire Herbein + Company Inc., a well-known CPA advisory firm headquartered in Reading, Pennsylvania. The acquisition is anticipated to conclude later in October 2025, though financial details regarding the transaction have not been disclosed.
Herbein + Company is recognized as a top 100 firm on the INSIDE Public Accounting list, boasting extensive experience across various sectors including agribusiness, construction, financial institutions, manufacturing, higher education, and government. With multiple offices throughout Pennsylvania, as well as in Delaware and New Jersey, Herbein has built a reputation for servicing a diverse clientele.
This acquisition marks Cherry Bekaert’s first venture into Pennsylvania, enhancing the firm’s connectivity across the northeastern, mid-Atlantic, and midwestern regions of the country. The deal is part of an ongoing strategy to strengthen Cherry Bekaert’s presence and service offerings in key industries.
Herbein’s client portfolio includes a mix of family-owned businesses, private equity groups, business enterprises, and privately held companies, which aligns well with Cherry Bekaert’s existing clientele. The integration of these two firms is expected to be smooth, with both companies ensuring a high standard of service throughout the process.
Following the acquisition, the unified team will operate under the Cherry Bekaert brand, with the transaction structured into two components. Cherry Bekaert Advisory LLC will take over Herbein’s nonattest assets while Cherry Bekaert LLP will acquire Herbein’s attest assets. This strategic approach is designed to retain the excellent service standards currently enjoyed by clients of both firms.
Currently, Cherry Bekaert ranks at No. 20 on Accounting Today’s Top 100 Firms list, reporting impressive figures including $660 million in revenue, 47 offices nationwide, and a workforce of over 2,600 staff members. In 2021, the firm recorded a total of 183 partners. Conversely, Herbein boasts $60.2 million in revenue, with 12 offices and 45 partners employing nearly 400 individuals.
This acquisition is a significant move in Cherry Bekaert’s ongoing M&A strategy, a plan that has accelerated since the firm’s partnership with private equity firm Parthenon Capital in 2022. Previous acquisitions by Cherry Bekaert include firms such as Jameson in Massachusetts and Spicer Jeffries in Denver.
Conclusion
As Cherry Bekaert embarks on this strategic acquisition, both organizations are looking forward to the positive impact it will have on their clients and the enhanced service offerings across key industries.
Frequently Asked Questions (FAQ)
What is the main purpose of Cherry Bekaert’s acquisition of Herbein + Company?
The acquisition aims to enhance service offerings across key industries and strengthen the regional presence of Cherry Bekaert, marking the firm’s inaugural expansion into Pennsylvania.
When is the acquisition expected to close?
The acquisition is expected to close later in October 2025.
What are the key industries in which Herbein has experience?
Herbein has extensive experience in agribusiness, construction, financial institutions, manufacturing, higher education, and government.
Key Features of the Acquisition
| Feature | Details |
|---|---|
| Acquiring Firm | Cherry Bekaert |
| Target Firm | Herbein + Company |
| Location | Pennsylvania |
| Expected Closing Date | October 2025 |
| Revenue (Cherry Bekaert) | $660 million |
| Revenue (Herbein) | $60.2 million |
| Offices (Cherry Bekaert) | 47 |
| Offices (Herbein) | 12 |
| Workforce (Cherry Bekaert) | Over 2,600 staff |
| Workforce (Herbein) | Nearly 400 employees |
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