Central Valley and WFS To Merge
Central Valley Cooperative and WFS based in Truman, Minn., announce that their voting members have approved a plan for merger. More than 74 percent of the Central Valley and more than 75 percent of the WFS members voted in favor of combing the two companies into one.
The new Central Farm Service will begin operating on March 1, 2016, under the new name.
WFS Chief Executive Officer Todd Ludwig will be the CEO of the new company while Central Valley CEO Gary Mohr will become the Chief Administrative Officer.
Central Farm Service will service a trade area that is about 110 miles north and south from Randolph, Minn., into Iowa and 125 miles east and west from Hayfield to Welcome, Minn.
The projected annual sales of the combined cooperative are expected to exceed $600 million.
Central Valley employed 180 full-time and more than 65 seasonal employees while WFS employed 230 full and part-time employees last year.