Nationwide Mutual Insurance Co. announced this morning that it has completed its previously announced acquisition of Harleysville Mutual Insurance Co. and Harleysville Group Inc.

Nationwide’s acquisition of the Pennsylvania-based insurer makes Harleysville part of Nationwide’s property and casualty independent agency business unit. Nationwide paid $60 per share to acquire all of the shares of Harleysville stock, in a transaction valued at $834 million.

The merger is part of Nationwide’s strategy to further invest in its distribution channels, Nationwide CEO Steve Rasmussen said in a release. Collectively, Des Moines-based Allied Insurance, a Nationwide company, and Harleysville Insurance will operate Nationwide’s independent agency system in 44 states.

Harleysville Insurance will maintain its headquarters in Harleysville, Pa., and the merger will not have any immediate effect on staffing levels in Des Moines, a Nationwide spokeswoman said.