The Boards of Directors of Farmward Cooperative, Brewster, Minn., and New Vision Co-op, Morgan, Minn., jointly announced on Aug. 7 that they have concluded ongoing unification discussions and have decided not to unify at this time.
The decision follows a two-month study in which the Boards and leadership visited with employees and members, led focus groups, and toured each cooperative’s facilities in addition to conducting in-depth financial and governance reviews.
“While there were many great opportunities offered in a unification, our immediate focus is on serving our respective members, “ said Farmward Board Chair Dave Kadlec. “The two cooperatives are a good match, but we want to take some more time to sit back and focus on our own teams while we continue to build upon the great partnership we’ve built in this process.”
Both Farmward and New Vision said they intend to continue identifying opportunities to grow, expand, and improve their businesses. Each board expressed their gratitude to the member-owners and employees who shared their feedback, insights, and ideas during the study period.
“Our cooperatives are each in great financial shape and our employees are energized for serving our members,” said New Vision Board Chair Chad Wieneke. “It’s been great to connect the teams at our two cooperatives. Those relationships are going to benefit our producers. It has benefitted the Boards.”
Farmward began in 2017 with the merger of legacy cooperatives Harvest Land and Co-op Country Farmers Elevator. In 2019, Equity Elevator and Trading Co. joined the cooperative. Farmward has some 14 locations, including Clements, Comfrey, Danube (two), Morton (two), Olivia, Renville, Sacred Heart, Springfield, Wabasso, and Wood Lake.
Farmward has anhydrous ammonia sites at Blomkest and Buffalo Lake. Products and services include grain handling and marketing, crop protection, crop nutrients, seed, precision ag, bulk feed manufacturing and delivery, and bulk delivery of energy products, including refined fuels, propane, and lubricants. It also provides producer financing, leasing, crop insurance, and property and casualty insurance through two subsidiary companies, AgQuest Financial Services and Northland Capital.
New Vision dates back to 1901 and serves more than 2,000 member-owners in southwest Minnesota, northwest Iowa, and eastern South Dakota from 19 locations in Minnesota. In addition to two sites in Brewster, the co-op has locations in Worthington, Miloma, Dundee, Heron Lake, Reading, Wilmont, Windom, Adrian, Jeffers, Ellsworth, Alpha, Magnolia, Mountain Lake, Beaver Creek, Hills, Marna, and Mankato. New Vision lists its three major businesses as agronomy, grain, and feed.