ALBERTA CITY, IOWA, US — Alceco, an Iowa cooperative, plans to acquire full ownership of Ag Partners, LLC. The acquisition was expected to be complete on or around July 31.
Ag Partners has been a joint venture between Alceco and Cargill since its founding in 1997.
“We have very much appreciated the relationship we have had with Cargill,” said Jim Franzmeier, board chairman of Alceco. “While the ownership will change, we look forward to a continued strong relationship with Cargill through the Ag Partners’ rail facilities, grain marketing alternatives and feed ingredients needs.”
The ownership transition and business procedures are anticipated to be smooth.
“Customers, employees and suppliers will see very few changes as the Alceco board will initially run under the Ag Partners’ brand,” said Troy Upah, chief executive officer of Ag Partners. “Our goal will be very similar, maintaining Ag Partners’ role as a leading provider of producer solutions and services in Northwest Iowa through our great team, key investments and our financial strength.”
Ag Partners provides products, services and market access in the areas of grain, agronomy, feed and petroleum. The company’s locations include retail and wholesale agronomy outlets, grain/petroleum facilities and feed mills throughout Iowa.