USA – Cargill has sold its stake in the Progressive Ag Partners (PAP) joint venture to Central Valley Ag Cooperative (CVA) giving it full ownership of the venture effective June 1.
PAP was a joint venture, formed in September of 2002 between CVA and Cargill, offering the buying, selling and storage of grain from producers in the Bradshaw area.
The facility is able to ship grain by both truck and shuttle trains and has enough rail capacity to ship 110 car shuttle trains.
Central Valley Ag ranks 41st in North American grain storage capacity with 44 million bushels and has 22 grain storage facilities, reports to Sosland Publishing’s 2018 Grain & Milling Annual.
It is a farmer-owned cooperative headquartered in York and has locations in Iowa, Kansas and Nebraska.
This buyout enables CVA to provide more strategic focus on specialty crops for our customers,” said Matt Ashton, CVA Sr. VP of Grain.
“We continue to look for ways of bringing value to our customers, and we view PAP in Bradshaw as a strategic asset for our specialty crop programs.
Additionally, PAP members will now be eligible for patronage from CVA, adding even more value for them as a result of this change.”
The buyout also benefits Progressive Ag Partners members, Ashton said, because they now will be eligible for CVA dividends.
In June 2017, Central Valley Ag Cooperative (CVA co-opted to merge with the Kansas farm cooperative Farmway, forming a merger company named the Central Valley Ag to bring additional value to the members of both cooperatives.