Dakota Plains board gives go-ahead to merger with CHS
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ST. PAUL, MINN. — Ninety-two per cent of the members of Dakota Plains Cooperative have voted to approve a merger with CHS Inc., setting the stage for the merger to take effect Jan. 1, 2014, pending appropriate due diligence by both organizations and final approval by the CHS board of directors.
“We are pleased the members could see the same vision and opportunities the board saw in merging with CHS,” said Greg Svenningson, president of the board for Dakota Plains Cooperative. “We are excited to partner with the nation’s leading cooperative.”
John McEnroe, executive vice-president of CHS Country Operations, said it’s a “good match” for both cooperatives.
“We are always interested in investments that align with the CHS commitment to helping our farmer-owners grow their businesses,” Mr. McEnroe said.
The companies said they believe a merger may enhance agronomy assets in the east central area of North Dakota, and plans under discussion include constructing three new fertilizer plants within the Dakota Plains trade area to take advantage of the proposed fertilizer manufacturing facility in Spiritwood, N.D., currently under review by CHS.
Ken Astrup will continue to lead Dakota Plains Cooperative as general manager.