MaxYield with 25 locations in Iowa and NEW Cooperative with 39 locations in Iowa are progressing to the next step in a potential merger.
The boards of directors for the cooperative met at the end of March, and each board voted to take the proposal to member votes. If approved, the merger would become effective August 1, 2021.
The cooperatives are eyeing substantial income enhancements, cost savings, and broader service offerings generated from the combined and more diverse cooperative business platform.
In addition to its retail locations, MaxYield also provides grain origination and accounting services for three Iowa feed mills and operates three Cenex convenience stores in Iowa.
NEW Cooperative, Inc., serves 5,500 member-owners throughout western and northwest Iowa with grain services, feed manufacturing, crop inputs and energy products.
MaxYield Cooperative’s board of directors announced the merger proposal will go to a member vote in June.
The companies say NEW Co-op:
- will continue to operate MaxYield’s Garner and Britt feed mills after the potential merger
- would also continue to offer MaxYield’s SciMax Solutions brand as the grower learning group platform alongside NEW’s MAPS brand
- would continue the harvest on-farm grain pick up program at least through the fall of 2021 and will be reevaluated prior to the fall of 2022
