Two major agricultural cooperatives are finalizing a merger agreement.
Boards of Directors at both Central Valley Ag Coop and United Farmer Cooperative have unanimously approved the partnership and have entered into a letter of intent. Though members and stockholders of each cooperative would still need to 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 Dave Beckman, board chairman for Central Valley Ag.
"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.