The Boards of Directors for North Central Farmers Elevator (NCFE) and Wheat Growers (WG) have come together in an agreement to unify the two cooperatives. In June the members of these groups will vote to ratify the decision to become member-owned, locally governed CentraGro Cooperative.
“The vote on the Unification Agreement taken by our Board members reflects the overall support we’ve heard from our membership over the past several weeks,” said NCFE Board President Richard Osterday. “More and more, people understand that our main objective in moving forward with the proposed unification is to build on our past successes to create an even stronger, more competitive future for our members.”
After announcing the initial Letter of Intent in March, leaders from NCFE and WG have focused on the due diligence steps required during a unification process. That work culminated in a final Agreement proposal for consideration by the Board members this week.
“With the thorough due diligence that we’ve conducted, we have even more confidence in the benefits that our patrons will experience as a result of a unification,” said WG Board President Hal Clemensen. “These benefits will translate into increased patronage, a stronger balance sheet, and more investment in products, services and facilities to better serve our member-owners.”
Added WG CEO Dale Locken, “Now that the Board members have approved the Unification Agreement, including CentraGro as the new name, we want to focus on sharing the details with our member-owners. We look forward to meeting with them in the coming weeks to make sure they have the information they need before the vote.”
For a schedule of upcoming NCFE/WG member meetings, the voting process, and other information regarding the proposed unification, visit www.growingtogether.coop. Questions can be submitted on the website or by calling 1-888-429-4902 (WG) or 1-800-658-3353 (NCFE).