Merger with Federation Cooperative Takes Effect October 1, 2019
Federation Cooperative (Black River Falls, WI) and ProVision Partners Cooperative (Marshfield, WI) have announced that voting members have approved a plan of merger to bring their two companies together.
Voting members overwhelming supported the plan of merger by acquisition with ProVision Partners Cooperative with 82% of the Federation Cooperative membership ballots cast in favor of the unification.
The merger will be effective October 1, 2019 and the newly unified company will retain identity as ProVision Partners Cooperative.
ProVision Partners Cooperative General Manager, Rob Larson will remain as GM/CEO of the new company, while Federation Cooperative CEO, Keith Holm, will leave to pursue other possibilities.
“With this positive vote, our memberships have created a stronger diversification within the co-op by providing a better balance between its animal nutrition, agronomy and its consumer businesses,” stated David Brill, ProVision Partners Cooperative Board Chairman.
“Three big benefits to our union will be profitability, talent and technology. Together, we can utilize more of our rolling stock over a wider footprint; we can be more effective at sharing and attracting talent in an industry with 50% more jobs than college graduates; and Federation already has precision-decision field mapping technology that will be more economically utilized by a unified organization.”
The newly merged cooperative will service a trade area north and south from Abbotsford to Tomah and west to east from Blair to Stevens Point. The two companies currently cover a trade area that is adjacent to each other, but do not operate facilities in the same communities.
Author: News Desk
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