Country Pride Cooperative selling assets to CHS
WINNER, S.D. — Country Pride Cooperative, a regional ag cooperative with locations in 12 communities in South Dakota and Nebraska, announced Friday, Jan. 25, it is selling its assets to CHS.
The cooperative said the proposal was voted on by the members of Country Pride and was passed with 92 percent approval. The transaction is expected to be finalized on March 1. Terms were not announced.
“On behalf of the board, I would like to thank the Country Pride members for their support of this proposal,” said Country Pride Board of Directors Chairman Cody Jorgensen in a statement. “We are excited about the future and what CHS will bring for our patrons and employees.”
The co-op has had locations in the South Dakota towns of Burke, Dallas, Dante, Fairfax, Freeman, Menno, Mission, Wagner, White River, Winner, along with Nebraska sites in Crofton and Valentine.
“CHS has a long history of serving South Dakota farmers and ranchers – much of that history alongside Country Pride as our partner,” said Mike Johnston, senior vice president, CHS. “This decision by Country Pride members will help us strengthen our ability to add value for area producers and reinforce our commitment to help our farmer-owners grow and succeed.”
The cooperative has more than 140 employees and has agronomy, energy, feed, grain and retail divisions at its various locations. Country Pride looked at merger opportunities in 2017, but decided at that time to remain as an independent local cooperative.
The roots of Country Pride go back to 1935 to the Freeman Coop Gas and Oil business. Winner’s Farmers Coop Oil Association was started in 1940, and those two business continued to grow until a merger of the memberships in 2000 created Country Pride Cooperative.
CHS, based in Inver Grove Heights, Minnesota, is one of the world’s largest ag businesses, owned by the cooperatives themselves, farmers, ranchers and preferred stockholders. It has more than 12,000 employees.