In a joint announcement, the Boards of Directors of GROWMARK and CHS have revealed their decision to initiate an exploratory process aimed at identifying opportunities for enhanced collaboration. This strategic move is geared towards serving owners, customers, and strengthening the cooperative system in the future.
The two farmer-owned cooperatives, with a well-established history of collaboration, will engage in a thorough exploration over the next few months. This initiative seeks to uncover avenues for further cooperation that will mutually benefit their farmer-owners, cooperative-owners, and customers.
GROWMARK and CHS have a track record of successful teamwork on strategic projects, aligning their efforts to bring value to their stakeholders. Currently, both cooperatives are actively involved in joint efforts to advance agriculture, invest in technology, and introduce innovative solutions to their customers. A notable milestone in this collaboration is the establishment of Cooperative Ventures in 2021, a venture capital fund dedicated to supporting breakthrough technologies in the agriculture industry.
Mark Orr, CEO of GROWMARK, emphasized the commitment to adding value to members and customers while ensuring a robust cooperative system for the future. He cited the partnership with CHS in Cooperative Ventures as a prime example of cooperative synergy that benefits the shareholders of both companies.
Jay Debertin, President and CEO of CHS, expressed confidence in the potential of working together to better serve farmer- and cooperative-owners. The collaboration aims to meet global customer demand for products from their owners and elevate the value of the cooperative system.
Although the outcome of the exploratory process remains uncertain, both GROWMARK and CHS anticipate emerging from this venture with a strengthened relationship. The focus will be on improving customer outcomes and fortifying agriculture for the benefit of farmer- and cooperative-owners, signaling a commitment to the continued success of their longstanding collaboration.
