Two Indiana Grain and Energy Co-Ops Merge
Jackson-Jennings Farm Bureau Cooperative Association Inc. and Premier Companies (Premier Ag) announced they are merging to form a single $250 million company under the Premier Companies name. The new company, which will launch September 1, will cover most of southeastern Indiana and regions of Ohio and Kentucky.
“Both cooperatives entered into this merger with extremely strong balance sheets and histories of exceptional service to the communities they serve,” said Harold Cooper, Premier CEO in a company statement. “We believe our unification will create a diverse organization positioned to serve its members in Southeast Indiana efficiently and effectively in the dynamic and rapidly changing agriculture environment.”
Ron Silbert, chief executive officer and general manager of Jackson-Jennings told the Daily Journal that both co-ops have grain, feed, energy, and retail divisions with a small amount of overlap. In addition to its branches in Brownstown, Cortland, Corydon, North Vernon, and Salem, Jackson-Jennings also operates CountryMark convenience stores, a fuel station, farm store, a grain elevator in Cortland that handles corn, wheat, and beans, and an elevator in Brownstown that handles corn. In addition to Premier Ag’s branches in Franklin, Greensburg, Hope, St. Paul, Trafalgar, and Harrison, Ohio, the co-op also has three fuel stations, according to WBIW.com.
The merger will not result in any significant changes for members or customers of either co-op, both of which have been in business since the 1920s. The only major shift will be the consolidation of the two headquarters, according to Cooper.