INDIANAPOLIS, INDIANA, US — Farmer-owned cooperatives Co-Alliance Cooperative, Inc. and Ceres Solutions Cooperative, Inc. will pursue a merger vote after spending the past three months in a due diligence period to better understand the potential synergies of a combined company.
Following review of the due diligence report, the boards of directors of both cooperatives approved a member vote for the merger. If the membership approves, the merger is expected to be completed in early 2024 and create a new cooperative that will serve hundreds of rural communities in Indiana, Illinois, Michigan and Ohio with 1,800 full-time employees.
Ceres and Co-Alliance have tested their partnership approach with their joint venture, Endeavor Ag & Energy. Endeavor has successfully provided agronomy, propane and feed services in north central Michigan.
“This merger drives our mission of serving our farmer-owners and the communities where we live and work,” said Kevin Still, chief executive officer of Co-Alliance Cooperative. “The combined strength and legacy of success of Ceres and Co-Alliance creates 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.”
With its corporate headquarters in Indianapolis, Indiana, US, Co-Alliance provides solutions in agronomy, propane, fuels, grain, seed, swine production and feed, offering a diverse portfolio of products and services. According to Sosland Publishing Co.’s 2024 Grain & Milling Annual, Co-Alliance has 23.1 million bushels of licensed grain storage at six facilities and is listed at No. 68 among North American grain companies.
In 2021, Co-Alliance merged with Harvest Land Co-op, creating a cooperative with $1.3 billion in annual sales.
Ceres Solutions is a farmer-owned local cooperative based in Crawfordsville, Indiana, 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,” said Jeff Troike, CEO of Ceres Solutions. “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.”
