Two of the country’s largest agricultural cooperatives say they are exploring ways to “further collaborate to better serve owners, customers and the cooperative system into the future.”
CHS and Growmark issued a joint release last week announcing the beginning of an exploratory process to further existing partnerships between the two cooperatives.
“While the outcome of the exploratory process is not yet known, both GROWMARK and CHS anticipate emerging with an even stronger relationship focused on improving customer outcomes and strengthening agriculture for farmer- and cooperative-owners,” the release says.
The coops specifically noted the 2021 launch of Cooperative Ventures, a venture capital fund focused on ag innovation investments.
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“Continuing our long history of adding value to our members and customers, while ensuring a strong and vibrant cooperative system for the future, is critical to the Growmark System,” Growmark CEO Mark Orr said in a statement. “Our partnership with CHS in Cooperative Ventures is a great example of cooperation amongst cooperatives that benefits the shareholders of both companies.”
For his part, CHS President and CEO Jay Debertin said “we aim to better meet customer demand for our owners’ products around the world and increase the value of the cooperative system.”
According to the ranking of the top 100 cooperatives by revenue compiled by the National Cooperative Bank in October 2023, CHS collected the most revenue of any co-op in 2022, with $47.8 billion. Growmark’s $14.5 billion in 2022 revenue was fourth on the list behind only CHS, Dairy Farmers of America and Land O’Lakes.
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