Landmark, Cooperative Plus Intend To Merge
Two of Wisconsin's largest farm service cooperatives will become one entity next month following overwhelming support of their membership.
August 26, 2011
The membership of Cooperative Plus Inc., ranked No. 83 on the CropLife 100, showed their overwhelming support for the proposed merger with Landmark Services Cooperative (ranked No. 36 on CropLife 100) with a 92% majority vote counted at a special meeting last month in Burlington, WI.
"We are pleased with the number of members that took the time to be a part of this important process," said Cooperative Plus Board President Jim Lange. "The near-unanimous support that the membership has shown for this merger is another example of the positive momentum this project has had all along."
Support for the merger between Cooperative Plus and Landmark has been strong from day one. At a joint meeting on June 9, the Board of Directors for each cooperative each voted unanimously to move the merger forward. Informational meetings held with Cooperative Plus members throughout late June and July brought members together to learn the details of the merger process and ask questions of the leadership teams of both CPI and Landmark saw a positive response. "We have heard nothing but good news from everyone regarding this merger," said Maynerd Rauk, interim CEO of Cooperative Plus. "Our Board, our employees and now our members have shown that they are ready for this next step for their cooperative."
The vote by the membership concludes the formal merger process. The merger will now become final at the conclusion of both cooperatives' fiscal year which is September 30, 2011. The name of the merged entity will be Landmark Services Cooperative and will be headquartered in Cottage Grove, WI.
Cooperative Plus posted $72 million sales in 2010. The cooperative has seven locations and more than 5,000 active members in southeastern Wisconsin and northeastern Illinois. The headquarters is located in Burlington, WI, 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, WI, reached sales of $288 million 2010. Employing nearly 400 people and with a membership of more than 15,000, Landmark provides Agronomy, Energy, Animal Nutrition, Grain, Retail and Transportation products and services through 16 locations throughout south-central Wisconsin and northern Illinois.
(Source: Landmark Services Cooperative, Cooperative Plus Inc.)