Two of Indiana's Largest Cooperatives Pursue Due Diligence, Possible Merger

Announced on Aug. 25, two of Indiana’s biggest cooperatives are engaging in due diligence for a potential merger. 

In the companies’ joint release it was said: “This due diligence process comes after years of analyzing opportunities together and the successful performance of their joint venture, Endeavor Ag & Energy. Endeavor was formed three years ago and serves central Michigan in the areas of agronomy, propane and feed”

The cooperatives expect the time frame for due diligence to be three months. In the due diligence process, the cooperatives will explore strengths, synergies and potential improvements in financial, operational and organizational aspects. And then, the cooperatives will discuss their strategic options. 

Co-Alliance’s footprint extends across Indiana, Ohio and Michigan. Ceres Solutions’ footprint extends across 37 counties in Indiana and Michigan. 

 Tim Burke, Chairman of Co-Alliance’s Board of Directors, said, “This represents a significant step towards a more prosperous future for our members. By assessing our capabilities and identifying synergies, we are poised to unlock new opportunities and enhance the services and support each cooperative currently provides to our respective members."

Rick Brubaker, Chairman of Ceres Solutions' Board of Directors, said, "We believe that this collaborative effort will lead to mutual benefits for both cooperatives and their members. We are excited about the potential for growth and innovation that can emerge from this process."