If the merger agreement is approved and adopted by the members of Farmland Co-op Inc., Farmland would merge with Agtegra.
Farmland is a stock cooperative located in Oakes, North Dakota, U.S., an area where the company already provides grain and agronomy services. Farmland has approximately 11 full-time employees and operates an energy business providing its members and customers with propane and refined fuels, as well as a convenience store and tire shop. Farmland has an estimated 140 members.
The next step is for the Farmland leadership to meet with its members later in July to vote on the merger agreement. If the Farmland members vote to join with Agtegra, it will not be necessary for Agtegra members to vote on this transaction.
“We are excited about this potential opportunity to expand Agtegra’s energy business and look forward to working with Farmland’s members, patrons and employees,” said Chris Pearson, chief executive officer of Agtegra. “Having Farmland join Agtegra would allow us to build on their expertise and enhance our fuel offering to our North Dakota customers. It also would allow us to increase our capabilities in an area that we already serve.”
In February, Agtegra was previously known as two different co-ops: North Central Farmers Elevator and Wheat Growers. The cooperatives chose the name Agtegra Cooperative for their new South Dakota-based venture when they merged.
Currently, Agtegra is comprised of 900 employees in North and South Dakota serving more than 60 communities and approximately 7,850 member-owners and 22,600 equity holders. In addition to offering grain and agronomy services, the cooperative will offer its members aerial application services, fuel, animal feed, and precision ag hardware and software products and services.