Two major agricultural cooperatives are finalizing a mergeragreement.
Boards of Directors at both Central Valley Ag Coop and United Farmer Cooperative have unanimously approved the partnership and have enteredinto a letter of intent. Though members and stockholders of each cooperative would still needto approve the move.
"The merger of CVA and UFC is a tremendous opportunity to position two financially strong cooperatives to meet the needs of our patrons for many years to come," said DaveBeckman, board chairman for Central Valley Ag.Doug Moon, Board Chairman for United Farmer's Coop agreed. He said, "I think this merger
is very good for the patrons of CVA and UFC because we have two strong, successful cooperatives combining resources to be even more prepared to meet tomorrow's challenges in agriculture. It will allow us to better serve our customer's needs today and remain relevant as we explore new opportunities to create additional value."
"It's all about meeting and exceeding our customer/owner expectations," said Central Valley Ag's CEO Doug Derscheid. "Successful companies continually reinvent themselves to keep current with an ever-changing market place and the changing needs of their customers. Cooperatives should be no different."
Combined, the coops have 66 locations in Kansas and Nebraska, employing over 700 people.