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Farm Events: |
Farm News: Landmark And Coop Plus Talk MergercommentsPosted: 05.06.2011
Two agribusinesses are discussing a possible merger.
A letter of intent was signed this week between the leadership teams of Cooperative Plus and Landmark Services Cooperative, discussing the potential consolidation of the two entities. The next move will be for the full Board of Directors and Executive Management staff to work through discover, and member votes. “We are pleased at the prospect of working together with Landmark and their leadership team over the coming months,” said Cooperative Plus Board President, Jim Lange. “It is our desire to continue to provide our members with the best value in the marketplace and we feel that Landmark is an ideal partner to make that happen.” Should both parties choose to move forward, it is expected that the merger would be completed at the end of each coop’s fiscal year, which is September 30, 2011. “Landmark’s Board of Directors and management staff feels is excited about taking this discussion to the next level and we feel confident this is a step in the right direction for the membership of both cooperatives.” said Bob Carlson, Chief Executive Officer for Landmark. Cooperative Plus posted $72 million sales in 2010. The cooperative has seven locations and over 5,000 active members in southeastern Wisconsin and northeastern Illinois. The headquarters is located in Burlington, Wisconsin with additional sites in Clinton, Elkhorn, East Troy, Genoa City, Union Grove and Whitewater. Cooperative Plus offers its members Agronomy, Animal Nutrition, Grain, Energy and Retail products and services. Landmark Services Cooperative, headquartered in Cottage Grove, Wisconsin, reached sales of $288 million 2010. Employing nearly 400 people and with a membership of over 15,000, Landmark provides Agronomy, Energy, Animal Nutrition, Grain, Retail and Transportation products and services through sixteen locations throughout south-central Wisconsin and northern Illinois. |