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, an accounting firm based in Raleigh, North Carolina, is set to acquire Herbein + Company Inc., a prominent CPA advisory firm. This acquisition is expected to finalize in late October 2025, marking a significant expansion into Pennsylvania for Cherry Bekaert.
The financial terms of the acquisition have not been disclosed. Herbein + Company is recognized as a top 100 firm according to INSIDE Public Accounting’s list and has established a strong reputation across various industries such as agribusiness, construction, financial institutions, manufacturing, higher education, and government. The firm is headquartered in Reading, Pennsylvania, with multiple offices in the state, along with locations in Delaware and New Jersey.
This acquisition will broaden Cherry Bekaert’s operations, enhancing its connectivity across the northeastern, mid-Atlantic, and midwestern regions of the United States. Herbein’s diverse clientele comprises family-owned businesses, private equity ventures, business enterprises, and privately held companies, which aligns closely with Cherry Bekaert’s existing client base.
Michelle Thompson, CEO of Cherry Bekaert Advisory LLC, emphasized that this acquisition will enhance the firm’s service offerings across key industries, fortifying its regional presence. David Stonesifer, CEO of Herbein, expressed optimism surrounding the acquisition, assuring clients of the continued high-quality service they have come to expect.
This transaction will consist of two parts: Cherry Bekaert Advisory LLC will acquire Herbein’s nonattest assets, while Cherry Bekaert LLP will take over Herbein’s attest assets. The integration process for both firms will be designed to be seamless, maintaining the standard of excellence that clients are accustomed to. The newly unified team will operate under the Cherry Bekaert brand.
Cherry Bekaert is a substantial player in the accounting industry, ranked No. 20 among Accounting Today’s Top 100 Firms, boasting an impressive $660 million in revenue, 47 offices, 183 partners, and a workforce exceeding 2,600 staff members. In contrast, Herbein reported $60.2 million in revenue, operating from 12 offices with 45 partners and nearly 400 employees.
This acquisition is part of Cherry Bekaert’s broader mergers and acquisitions strategy, which has been accelerated by its partnership with private equity firm Parthenon Capital in 2022. Recent additions to Cherry Bekaert’s portfolio include the acquisition of firms such as Jameson in Massachusetts and Spicer Jeffries in Denver.
Key Highlights
| Feature | Details |
|---|---|
| Acquiring Firm | Cherry Bekaert |
| Acquired Firm | Herbein + Company Inc. |
| Location of Herbein | Reading, Pennsylvania, with offices in Delaware and New Jersey |
| Expected Closing Date | October 2025 |
| Cherry Bekaert Revenue | $660 million |
| Herbein Revenue | $60.2 million |
| Number of Cherry Bekaert Offices | 47 |
| Number of Herbein Offices | 12 |
FAQ
What is the acquisition about?
Cherry Bekaert will acquire Herbein + Company Inc., a CPA advisory firm, with the deal expected to close later in October 2025.
Where is Herbein + Company located?
Herbein is headquartered in Reading, Pennsylvania, and has additional offices in Delaware and New Jersey.
What are the revenue figures for both firms?
Cherry Bekaert has a revenue of $660 million, while Herbein reported $60.2 million in revenue.
How many offices does each firm operate?
Cherry Bekaert operates 47 offices, while Herbein has 12 offices.
What is the strategic significance of this acquisition?
This acquisition marks Cherry Bekaert’s first expansion into Pennsylvania and aims to enhance its connectivity across northeastern, mid-Atlantic, and midwestern regions.
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
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