Valley United & Thompson Farmers Elevator Vote to Merge
Sep 07, 2023
NEWS RELEASE(September 6th, 2024)
Valley United & Thompson Farmers Elevator Vote to MergeMembers of both Valley United Co-op & Thompson Farmers Elevator Company voted to merge on Wednesday, September 6th. Patrons of the Cooperative(s) overwhelmingly approved the merger after the boards of directors decided it would be beneficial and scheduled a vote. “Effective January 1st, 2024, the new organization will operate as Valley United Co-op.
“We listened to our members, and it was based on their comments that we brought this to a vote of the membership,” said Jeff McInnes, Valley United Co-op board president, in a news release. “We’re pleased that the patrons concluded that the unification of both cooperatives can bring additional value to members and ensure the long-term relevance and viability of a unified cooperative. We want to thank them for their support and participation in this important part of cooperative governance.”
“This is a merger of two financially strong, legacy-rich cooperatives,” said Brian Beiswenger, President of Thompson Farmers Elevator Co. “Our mission now is to seize this opportunity to build a new, even stronger cooperative better able to serve our member-owners. As we go forward, we will create new efficiencies, take advantage of new technologies, and continue to build a strong employee team – all to create more value for our members.” With the votes counted, the focus of the co-ops will now be “planning integration efforts”.
“We are very pleased with the result of today’s votes,” said Paul Coppin, Valley United Co-op CEO, who is set to take the reins of the new company upon consolidation. “Our members have recognized the opportunities that a combined cooperative can provide, and we are eager to move forward together as one stronger unit. This opportunity combines two like-minded, successful cooperatives in a way that allows us to diversify our businesses through size and scale to meet our member and customer needs today and well into the future.”
Customers should expect a smooth transition, including continuity of staffing at its current locations...
“The possibilities and opportunities for the new co-op are endless and the future looks bright for members of our co-op,” said Coppin.
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The Boards of Thompson Farmers Co-op Elevator and Valley United Coop will be having informational meetings along with Special stockholder meeting(s) on September 6th. It will be 6:00 PM at the Thompson Community Center and at 8:00 PM at the KC Hall in Reynolds.
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