FCA Co-op (MN) to Acquire Lakefield Farmers Elevator
Date Posted: March 5, 2013
Jackson. MN—FCA CO-OP announces Jan. 9 that is has entered into an asset purchase agreement to acquire essentially all the grain and energy assets of Lakefield Farmers Elevator LLC, owned wholly by Heron Lake BioEnergy LLC.
The transaction, which remains subject to certain customary closing conditions, is expected to close on January 30, 2013.
The agreement involves the purchase of two grain facilities in Lakefield and Wilder, Minnesota with a combined grain storage capacity of 2.8 million bushels and a retail fuel outlet.
FCA COOP will assume DP contracted corn that is physically on site and may purchase some or all of the other grain and fuel held in inventory on the closing date as part of a separate agreement.
“The addition of the grain elevators in Lakefield and Wilder is consistent with our strategy of expanding our footprint and product offerings to the members we serve.” says Jerry Svoboda, General Manager of FCA CO-OP.
“We are excited to bring a cooperative grain elevator business back to the communities of Lakefield and Wilder and look forward to growing the strong relationships we currently have with our farmer –owners that have been using our agronomy and energy products in the past.”
“Our grain marketing business has been growing in the Lakefield and Wilder areas and the acquisition of these two facilities will give our customers additional options for marketing grain to FCA.”
Says FCA Grain Division Manager, Aric Gordon, “and we look forward to starting lasting relationships with new customers as well.”
FCA CO-OP is a farmer owned cooperative with sales exceeding $195 million per year offering grain, agronomy, feed and energy products and services to members and non-members in the Southwestern Minnesota communities of Jackson, Lakefield, Okabena, Round Lake, Sherburn and Trimont.
For more information, call 800-864-3847.