CFS Looking at Another Merger
In a press release it was announced that the board of directors of Central Farm Service based in Owatonna and Truman along with River Region Cooperative of Sleepy Eye and South Central Grain and Energy of Fairfax had approved to bring the point of consolidation of the three companies to a member vote.
The vote on the proposed merger will be counted on February 21, 2017 with a potential date on or before August 1, 2017.
The cooperatives began a merger study in September of 2016 to explore the possibility of a merger. They reached a conclusion of an opportunity to grow member equity, improve access to capital and mitigate risk across a larger geographic area with a merger.
River Region Cooperative of Sleepy Eye was founded in 1890.
South Central Grain and Energy is based in Fairfax wit locations in buffalo Lake, Cosmos, Darwin, Fairfax, Gibbon, Hector and Stewart.