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Mid-Iowa Gains New Partners

Dec 05, 2019

Mid-Iowa Cooperative, GROWMARK Form Innovative Partnership

For Immediate Release

December 5, 2019

Contact: Mike Kinley, Mid-Iowa CEO, 641-366-2740, mkinley@midiowacoop.com

BEAMAN, Iowa—Mid-Iowa Cooperative has entered a new partnership with GROWMARK’s two Iowa retail companies to help co-op members access the latest agronomy and energy products and services, while providing greater access to grain end-user markets.

“This marks a major step forward to provide our members with the critical agronomic and energy services they depend on,” said Mike Kinley, CEO of Mid-Iowa. “Working with GROWMARK is a combination that will bring our members the best of the best in supply services and grain market access.”

This innovative partnership leverages the core competencies of Mid-Iowa, a 14-location, farmer-owned cooperative based in Beaman, and GROWMARK, a Bloomington, Illinois-based agricultural cooperative that serves cooperatives, retailers, businesses and customers in the U.S. and Canada.

As part of the partnership, GROWMARK’s operating company, New Century FS, will take over and operate Mid-Iowa’s agronomic and energy supply businesses. Mid-Iowa will collaborate with GROWMARK’s operating company, AgVantage FS, to optimize their grain assets, in conjunction with Mid Iowa’s extensive grain footprint.

“When we thought of how to improve our performance in the grain business, we immediately thought of Mid-Iowa,” said Brent Ericson, senior vice president, member services, for GROWMARK. “Mid-Iowa is well known for having first-class grain assets and bringing producer-members opportunities for marketing their grain.”

GROWMARK approached Mid-Iowa about this partnership, because the cooperative is progressive and has demonstrated the ability to adapt as Iowa agriculture evolves. “The marketplace has redundant capacity, and its time the industry started to think differently about collaboration and how it can add value for producers in the future,” said Barry Schmidt, vice president, retail business, for GROWMARK. “If you’ve watched Mid-Iowa during the past few years, they’ve definitely demonstrated that vision.”

Both Mid-Iowa and GROWMARK share similar business philosophies and are rooted in the agricultural cooperative system. “New Century Farm Service has continually demonstrated a high level of service to their members,” Kinley said. “Their business success is proof of that.”

The two companies plan to close the transaction before the end of December 2019. Leaders from Mid-Iowa and GROWMARK look forward to levering their company’s strengths to serve local farmers more effectively.

“I’m excited about this partnership,” said Bob Hogle, board president of Mid-Iowa who farms near Conrad. “Ag supply businesses are changing rapidly and the economics of these businesses have become more and more challenging. This deal aligns two strong companies to ensure that our members get top-shelf service and long-term value.”

About Mid Iowa Cooperative:
Mid-Iowa was formed in 1996 with the merger of Beaman Cooperative and Conrad Cooperative. Since then, company has expanded to 14 locations and continues to expand its geographical footprint, including the construction of a new, world-class, grain elevator north of Grundy Center. Mid-Iowa has also made significant investments in Sinclair Elevator and Milling companies (Parkersburg, Iowa) and unified with East Central Iowa Cooperative (Hudson, Iowa) in 2019. Mid-Iowa has 140 employees and annual revenues of $325 million. To learn more, visit www.midiowacoop.com.


About GROWMARK:
GROWMARK's roots are in serving agricultural cooperatives. Based in Bloomington, Illinois, the company was founded by FS cooperatives in Illinois, Iowa, and Wisconsin to act as a central resource for reliable, quality agronomic and fuel inputs. GROWMARK continues to execute that mission throughout the U.S. and Canada. Learn more at www.growmark.com.


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