United Cooperative, Hillsboro Farmers Cooperative Announce Merger
On July 11, 2013, the United Cooperative Board of Directors, based in Beaver Dam, WI, signed a letter of intent to allow a wholly-owned subsidiary of United Cooperative to pursue a merger with Hillsboro Farmers Cooperative, Hillsboro, WI.
“The world population will grow significantly in the next 30 years. As a result, the agriculture industry now puts a great deal of effort into improving efficiencies and sustainability so this generation and future generations can continue to produce food and fuel efficiently,” noted David Cramer, United Cooperative president and chief executive officer. “Hillsboro Farmers Cooperative sees this and wants to partner with United Cooperative so, together, we can provide their patron members with the equipment, products, and service needed to maximize production and survive generation after generation.”
In the coming months, there will be a series of meetings with Hillsboro Farmers Cooperative employees and patron members about the proposed merger. Ballots will be mailed to the Hillsboro Farmers Cooperative voting patron members in August. If approved, the merger will take effect October 1, 2013.
Hillsboro Farmers Cooperative is projecting revenues for the fiscal year ending September 30, 2013, to be near $60 million. “Hillsboro has many of the same divisions as United Cooperative, including feed, grain, agronomy, energy, and retail,” added Cramer. “They have locations in Hillsboro, Kendall, Wilton, Yuba, Wonewoc, Ontario, and Cazenovia.”
For more information, visit www.unitedcooperative.com.