Harvest Land Cooperative has merged with Co-Alliance Cooperative
Indiana-based agriculture and energy cooperatives Harvest Land Co-op and Co-Alliance Cooperative Inc. (formerly Co-Alliance LLP) have merged.
The new organization will be named Co-Alliance Cooperative Inc. and the merger will take effect Feb. 1.
Kevin Still, current president and CEO of Co-Alliance, is the new president and CEO of the merged cooperative. Harvest Land CEO Scott Logue will become the executive vice president of Co-Alliance Cooperative.
The newly formed cooperative reaches customers in Indiana, Ohio, Michigan, and Illinois. Together, the co-op will have over 1,000 employees and $1.3 billion in sales.
Speaking to media ahead of the announcement, Still said the merger is bringing together two extremely strong cooperatives.
Logue says they are proud to come together to meet the needs of farmers more effectively.
The co-ops have been talking for several years, but the timing is now right for the merger.
“This is a great opportunity for our memberships to join together and be able to offer it at another level to our members today,” Logue says. “The farm size has continued to grow, and consolidation is happening rapidly…we’re in another period of extreme consolidation and this is time for us to join together and do what our farmer-members need us to do.”
Still added that both co-ops have been looking for meaningful growth.
“We have two balance sheets and it was time to bring these two companies together to be a better competitor in the marketplace,” Still said.
Both sets of boards and memberships voted in January to approve the merger. Co-Alliance Cooperative Inc. will be headquartered in Avon, Indiana.