Stinson Advises ADM in Sale of Crop Risk Services Business

05.02.2017

Stinson Leonard Street LLP advised Archer Daniels Midland Company (ADM) in connection with the sale of its Crop Risk Services Business (CRS) to Validus Holdings, Ltd. (Validus) for $127.5 million, subject to certain working capital and balance sheet adjustments. CRS is a primary crop insurance general agent based in Decatur, Illinois with $548.9 million gross premiums written for the 2016 reinsurance year and 1,170 agents across 36 states. The deal included a marketing services agreement under which ADM and Validus have agreed to work together to continue to offer a full range of insurance and farmer marketing products and services to CRS customers. The transaction closed on May 1, 2017.

Wells Fargo Securities LLC served as financial advisor to ADM and Stinson Leonard Street LLP and Henke-Bufkin PA served as legal counsel to ADM.

Goldman, Sachs & Co. served as financial advisor to Validus and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to Validus.

The Stinson team included Jack Bowling, Ben Hobert, Phil McKnight, James Cronin, Nick Hoffman and Matt Brincks.