USA – Alceco, a farm cooperative, is planning to acquire full ownership of Ag Partners, LLC, a joint venture between Alceco and Cargill since 1997.
The ownership transition and business procedures are anticipated to be smooth.
“We have very much appreciated the relationship we have had with Cargill,” said Jim Franzmeier, board chairman of Alceco.
“While the ownership will change, we look forward to a continued strong relationship with Cargill through the Ag Partners’ rail facilities, grain marketing alternatives and feed ingredients needs.”
Ag Partners provides products, services and market access in the areas of grain, agronomy, feed and petroleum.
The company’s locations include retail and wholesale agronomy outlets, grain/petroleum facilities and feed mills throughout Iowa in the United States.
“Customers, employees and suppliers will see very few changes as the Alceco board will initially run under the Ag Partners’ brand,” said Troy Upah, chief executive officer of Ag Partners.
“Our goal will be very similar, maintaining Ag Partners’ role as a leading provider of producer solutions and services in Northwest Iowa through our great team, key investments and our financial strength.”
Sheryl Wallace, president of Cargill North America Grain, said Cargill is certain (Alceco’s) ownership will provide long-term value to local farmers in the area and the ongoing relationship with Cargill.
Ag Partners is a true partnership in which both parent companies have equal ownership and equal representation on an eight-member board of directors.
Each partner retained ownership of its respective facilities (in exchange for annual lease payments from the LLC) and invested capital to ensure a strong start for the new company.
Ag Partners continually invests in its facilities and equipment to keep pace with customer needs.
The company also continually invests in grain storage upgrades and enhanced grain-drying capabilities to improve service when our customers are the busiest.
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