Archer Daniels Midland Co. (ADM) said Nov. 11 that its wholly owned subsidiary, Agrinational Insurance Company, has acquired 50% of the shares of Agriserve Inc. (ASI). Agrinational has also acquired an option to purchase the remaining shares of Agriserve at a future date.

 

Through the partnership, ADM will add Agriserve’s expertise in crop insurance to its portfolio of grain merchandising services, the companies said.

 

"By working with Agriserve, ADM will be able to offer farmers the convenience of marketing their grain and purchasing crop insurance from one place," said Michael Lusk, vice-president, Insurance and Risk Management, ADM. "We look forward to working with Agriserve to provide farmers with valuable tools and services to help manage their business."