Two North Dakota Co-Ops to Merge
The shareholders of Clifford Farmers Co-op Elevator Company and the Galesburg Cooperative Elevator Company unanimously voted their approval on April 1 to merge the two companies.
Although both companies are in healthy financial shape, the board of the Galesburg Cooperative Elevator Company has been working toward the potential of this merger for two years as a means of securing continued success for the future.
Clifford Farmers Co-op Elevator Company brings its additional locations in Hope and Casselton, North Dakota, and its ownership of a stake in the Alton Terminal near Hillsboro to the table. Galesburg Cooperative Elevator Company brings ownership of its stake in the Alton Terminal, 4.4 million bushels of storage capacity, a propane business, dryer setup, and fertilizer and chemical plant to the merger.
The geographic proximity of the two companies, the complementary nature of their businesses, and the combination of their stakes in the Alton Terminal are being seen as all positive aspects of the deal.