The Boards of Directors of Farmers Coop Association (FCA) and Gold-Eagle Cooperative (GEC), two regional co-ops with agronomy, grain, energy, and feed businesses in Iowa and southern Minnesota, announced on May 17 that FCA members have approved a merger proposal whereby Gold-Eagle will acquire the assets and liabilities of FCA.
FCA members voted 95% in favor of the merger, which will take effect on July 1, 2024, with the merged company operating under the Gold-Eagle Cooperative name. Gold-Eagle’s Board of Directors will expand to include two voting directors and one association from FCA’s board, for a total of 11 directors and two associates.
Chris Boshart, General Manager of Gold-Eagle, will oversee the combined organization. Randy Broesder, FCA’s General Manager, will help ease the transition in the coming weeks before his retirement at the end of June.
“Gold-Eagle looks forward to welcoming the members and employees of FCA into the fold and wish to thank the FCA membership for the trust placed in GEC by voting in favor the merger,” GEC said in a statement. “Gold-Eagle is excited to bring on FCA’s businesses and locations to streamline processes, cut costs, and better utilize resources to ultimately benefit the farmer patrons.”
Founded in 1916, FCA operates four agronomy, grain, energy, and feed locations in Iowa and southern Minnesota. Gold-Eagle was formed in 1908 and currently has 16 agronomy, grain, feed, and bulk fuel locations in north-central Iowa.