Indiana farmer-owned cooperatives Co-Alliance and Ceres Solutions to vote on merger

USA- Farmer-owned cooperatives Co-Alliance Cooperative, Inc. and Ceres Solutions Cooperative, Inc. plan to conduct a member vote for a proposed merger to enhance their collective capabilities. 

The decision comes after an intensive three-month due diligence period, during which the organizations sought a comprehensive understanding of the potential synergies that could arise from the union.

Upon the review of the due diligence report, the boards of directors for both Co-Alliance and Ceres Solutions unanimously approved the proposal to proceed with a member vote. 

If the merger receives the nod from the membership, it is slated to be finalized in early 2024, marking the establishment of a new cooperative that will serve rural communities across Indiana, Illinois, Michigan, and Ohio. The merged entity is anticipated to boast a workforce of 1,800 full-time employees.

Co-Alliance and Ceres Solutions have previously collaborated through their joint venture, Endeavor Ag & Energy, which has successfully provided agronomy, propane, and feed services in north central Michigan.

Kevin Still, Chief Executive Officer of Co-Alliance Cooperative, expressed enthusiasm about the merger, stating, “This merger drives our mission of serving our farmer-owners and the communities where we live and work. The combined strength and legacy of the success of Ceres and Co-Alliance create a powerful partner for our farmer-owners and customers, helping them grow future generations. We are excited about this dynamic combination and what it means for the strength and future of the cooperative system.”

Headquartered in Indianapolis, Indiana, Co-Alliance provides solutions in agronomy, propane, fuels, grain, seed, swine production, and feed. The cooperative, listed at No. 68 among North American grain companies in Sosland Publishing Co.’s 2024 Grain & Milling Annual, boasts 23.1 million bushels of licensed grain storage at six facilities.

Co-Alliance made headlines in 2021 when it merged with Harvest Land Co-op, resulting in a cooperative with an impressive US$1.3 billion in annual sales.

On the other hand, Ceres Solutions, based in Crawfordsville, Indiana, is a farmer-owned local cooperative offering energy, agronomy, seed, and animal nutrition products and services, as well as information, technology solutions, and resources.

After considerable analysis, we believe this merger will provide a tremendous opportunity for our 20,000 farmer-owners. This will allow our team to provide more robust service offerings, greater investments in our assets, and an unmatched customer experience. Together we know there will be great synergies from this historic merger with the Co-Alliance team,” Jeff Troike, CEO of Ceres Solutions stated. 

As the voting process commences, the outcome will shape the future landscape of agricultural cooperatives in the region, potentially paving the way for enhanced services and strengthened support for farmer-owners and communities alike.

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