March 15, 2019 (Brainard, NE & Elmwood, NE) – This week, the Boards of Directors for Frontier Cooperative and Midwest Farmers Cooperative voted to sign a definitive agreement. Signing the definitive agreement means the Boards approved moving forward with a member vote to unify the two cooperatives. This decision came after completing due diligence during which employee teams evaluated the benefits and risks of this unification.
Neil Stedman, Board Chair for Midwest Cooperative, was happy with the extensive investigation completed as part of the due diligence process. “During the due diligence period we heard from both members and employees to ensure that we are making the right decision for both cooperatives. We wanted to understand all concerns and challenges that could impact our cooperative now and in the future,” said Stedman.
“I am excited about this opportunity for Frontier Cooperative and Midwest Farmers Cooperative,” said Greg Sabata, Board Chair for Frontier Cooperative. “As a Board, we always want to look to the future so we can make decisions now that will benefit us in the long-term. This unification will allow us to continue to grow, compete and succeed in Nebraska.”
During the due diligence study, employee teams identified specific benefits for both members and employees that demonstrated to the Boards the suitability of moving forward with this unification at this time. The benefits identified include strengthening member service to continue investing in technology, talent, assets, and programs; the ability to implement the best practices of both organizations; the ability to compete and grow more effectively over a greater combined area, capacity and capability; and the ability to strategically position the company for the future.
“This is a unification of equals. Midwest Farmers Cooperative has a similar culture to us, is similar in size and has similar services,” said Randy Robeson, CEO of Frontier Cooperative. “We want to be better able to support our members and their farming operations as a result of this unification.”
Jeremy Wilhelm, CEO of Midwest Farmers Cooperative, agrees. “As we look at ways to grow our business, we want to find opportunities that allow us to continue to invest in technology, people and assets. These investments are key pieces of the puzzle that allow us to grow our cooperative for our members and employees in the future,” Wilhelm said.
Over the next week, the two cooperatives will hold member meetings to communicate in more detail about why the Boards of Directors for Frontier Cooperative and Midwest Farmers Cooperative decided to move forward with a member vote for unification. Member voting packets will be mailed in the coming days following the member meetings.
About Frontier Coop
Frontier Cooperative Co. is a member-owned cooperative with 22 branches located primarily in eastern Nebraska, with the home office located in Brainard, Nebr. Frontier Coop offers products and services in Grain, Agronomy, Energy, and Feed and has been proudly serving local producers for over 100 years. Frontier Coop prides itself on being a progressive leader in today’s agricultural world.
About Midwest Farmers Cooperative
Midwest Farmers Cooperative is a farmer-owned cooperative operating 28 locations throughout southeast Nebraska. For nearly 100 years, it has provided value and services to help its patrons be successful. Midwest Farmers Cooperative is a full-service cooperative with products and services offered in Grain, Agronomy, Energy and Feed.
Media may direct questions to the following:
Randy Robeson, CEO Frontier Cooperative
402.545.2811 / email@example.com
Jeremy Wilhelm, CEO Midwest Farmers Cooperative
402-994-2585 / Jeremy.Wilhelm@midwestfarmers.coop