After announcing in January that they were exploring options for further collaboration (GM Jan. 12, p. 27), CHS Inc. and GROWMARK Inc. have decided that “no new opportunities will be pursued at this time,” the Minneapolis Star Tribune reported, citing CHS.
“CHS and GROWMARK have had a long-standing relationship, and in cooperative spirit, our teams will continue to work collaboratively on key strategic projects in ways that benefit our farmer-owners and customers across both cooperatives,” CHS said in a statement to the newspaper.
GROWMARK is headquartered in Bloomington, Ill., and CHS in Inver Grove Heights, Minn. The two farmer-owned cooperatives have a long-standing relationship and have partnered before on strategic projects, including the formation in 2021 of Cooperative Ventures, a $50 million venture capital fund focused on supporting advancements in breakthrough technologies for agriculture.
CHS is the nation’s largest agricultural cooperative by sales, with more than $45 billion in revenue last year. GROWMARK had about $15 billion in sales in its most recently reported fiscal year. In January the two companies said they were seeking further collaboration to improve agriculture, invest in technology, and bring new solutions to customers.
“We believe that by working together we can better serve our farmer- and cooperative-owners,” said Jay Debertin, CHS President and CEO, in January. “Ultimately, we aim to better meet customer demand for our owners’ products around the world and increase the value of the cooperative system.”