With a business deal expected to close before the end of 2019, Growmark announces it will acquire the agronomy and energy assets of Mid-Iowa Cooperative.
Formed in 1996 by the merger of Beaman Cooperative and Conrad Cooperative, Mid-Iowa Cooperative has 14 retail locations. Mid-Iowa has invested in its grain business with a new elevator north of Grundy Center, Iowa.
The partnership with Growmark will lead to New Century FS taking over and operating Mid-Iowa’s agronomic and energy supply business. In regards to the grain business, Mid-Iowa will collaborate with AgVantage FS.
“This marks a major step forward to provide our members with the critical agronomic and energy services they depend on,” Mike Kinley, CEO of Mid-Iowa said in a news release. “Working with Growmark is a combination that will bring our members the best of the best in supply services and grain market access.”
Growmark is reported to have approached Mid-Iowa about the business deal.
“When we thought of how to improve our performance in the grain business, we immediately thought of Mid-Iowa,” Brent Ericson, senior vice president, member services, for Growmark said in a news release. “Mid-Iowa is well known for having first-class grain assets and bringing producer-members opportunities for marketing their grain.”
Before this announcement, the most recent Growmark acquisition that increased its retailer footprint was in its eastern territory--in New York state. Read more about that here.
