Farmers Coop & Panhandle Coop discusses potential merger
SCOTTSBLUFF, Neb. (KNEP) - The Farmers Cooperative and Panhandle Cooperative are discussing a potential merger.
The Board of Directors for the Farmers Cooperative Elevator Company and the Panhandle Cooperative signed a letter of intent to explore the unification of the two cooperatives.
“This merger is just going to strengthen both company’s both Farmers Coop and Panhandle Coop and therefore its just going to strengthen the communities that we serve,” said Farmers Cooperative Elevator Company CEO Bart Moseman.
Each board hopes the merger will give the communities they serve a broader range of services, an increased access to markets, and improved bargaining power, which they believe will lead to mutual growth and strengthen the agricultural industry in the region.
“This doesn’t stop at the farm gate either though, we will continue to invest in the communities, education, just a lot of things both coops currently give to the communities they serve and I think this will enhance that even more so,” said Panhandle Cooperative CEO, Charlie Wright.
Both boards are currently working on a plan for the merger, and the completed documents will be made available to members in early Dec. for review and approval through a mail in ballot. Each cooperative will host an informational meeting in mid Dec. where the vote count will be certified. If approved the merger will take effect on March 1, 2024.
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