June 17, 2010
CHS to acquire Farmers Cooperative Elevator of Cavalier
CHS Inc., a Fortune 100 energy, grains and foods company, has reached an agreement with the Farmers Cooperative Elevator Company of Cavalier in North Dakota to acquire its assets.
The business arrangement was approved by the Cavalier producer-members and is slated for a July 12 effective date.
''Farmers Co-op Elevator has been serving area farmers and this community since 1929,'' said Pat Mahar, board chairman for Cavalier and an area producer raising sugar beets, edible beans and small grains. ''Joining CHS
ensures that we can continue our cooperative tradition of patronage back to the members and supporting our local economy.''
''This decision also means increased access to competitive commodity markets for our farmers' production,'' said Dave Rosscup, Cavalier general manager.
''The combination is a good match for both companies,'' explained John McEnroe, senior vice president of CHS. ''It aligns with our core commitment to always return value to our member-owners.''
Farmers Elevator Co of Cavalier has served its co-op members in the northeastern area of North Dakota with grain marketing and feed services. It will join the current CHS group led out of Drayton, No. Dak.