Dakota Plains Coop (ND) Votes to Join CHS
Date Posted: October 3, 2013
St. Paul, MNMembers of Dakota Plains Cooperative, a full-service agribusiness headquartered in Valley City, N.D., voted last week to approve a merger with CHS Inc. (NASDAQ: CHSCP), an energy, grains and foods company and the nation's leading farmer-owned cooperative.
The proposal passed with a 92 percent approval and will become effective Jan. 1, 2014, pending appropriate due diligence by both organizations and final approval by the CHS Board of Directors.
"We are pleased the members could see the same vision and opportunities the board saw in merging with CHS," said Greg Svenningson, Dakota Plains Cooperative board president.
"We are excited to partner with the nation's leading cooperative."
"This is a good match for both cooperatives," said John McEnroe, executive vice president, CHS Country Operations.
"We are always interested in investments that align with the CHS commitment to helping our farmer-owners grow their businesses."
Patrons of Dakota Plains Cooperative should expect a smooth transition, including continuity of staffing at its locations.
Ken Astrup will continue to lead the co-op as general manager.
For more information, call 651-355-4946.