United Cooperative Finalizes Merger With Cooperative Services
Cooperative Services’ members have voted in favor of a merger with a wholly-owned subsidiary of United Cooperative.
March 7, 2012
After announcing preliminary plans back in January, Cooperative Services’ membership, based in Denmark, WI, have voted in favor of a merger with a wholly-owned subsidiary of Beaver Dam, WI-based United Cooperative.
Voting packets were mailed to Cooperative Services’ members in mid February, and the ballots were officially counted on Tuesday, March 6, 2012, at 1 p.m., in Denmark.
“United Cooperative is pleased to see this positive result from the voting process with Cooperative Services," commented David Cramer, United Cooperative president and chief executive officer. “We look forward to serving these patron members with assets obtained through the merger, as well as future equipment and facility investments. We are also pleased to welcome the Cooperative Services employees into the United Cooperative family.”
This vote allows United Cooperative to move forward in the merger process with Cooperative Services. The merger will become final on April 1, 2012.
“United Cooperative strives every day to make sure we have the products and services to meet and exceed the needs of our patron members, regardless of the size and scope of their farming operation,” noted Cramer. “We look forward to working together and serving our new north-eastern-Wisconsin and upper-Michigan patron members and future patron members.”
Cooperative Services’ revenues for the fiscal year ending January 31, 2012, were in excess of $29 million. All of Cooperative Services’ divisions can be found at one location in Denmark: feed, grain, agronomy, a Cenex convenience store, and an automotive shop.
This is the third merger this year for United Cooperative. Both Pulaski-Chase Cooperative, based in Pulaski, WI, and Mid-County Cooperative, based in Shawano, WI, merged with wholly-owned subsidiaries of United Cooperative as of February 1.