Larsen Cooperative Co. members approve merger with CHS
ST. PAUL, Minn., Aug. 6, 2012 /PRNewswire/ -- Voting members of Larsen Cooperative Co., headquartered in New London, Wis., have approved a merger with CHS Inc. (Nasdaq: CHSCP), the nation's leading farmer-owned cooperative. The decision will become effective in September 2012 pending appropriate due diligence by both organizations. This marks the first Wisconsin-based co-op to join the CHS Country Operations business.
"Our vision lines up well with CHS," said LeRoy Peterson, general manager, Larsen Cooperative. "This is the right thing for us to do both for our patrons as well as our employees. It positions us to serve their needs well into the future."
"The combination is a good match for both companies," explained John McEnroe, senior vice president CHS. "And it aligns with the CHS core commitment to always return value to its member-owners."
Patrons of Larsen Cooperative should expect a smooth transition, including continuity of staffing at all its locations; the business will continue to operate under the Larsen Cooperative name.
A full service cooperative providing premier customer service, competitive pricing and innovative ideas to patrons so their operations run with ease, Larsen Cooperative provides agronomy, grain marketing, feed, farm supply and energy products and services across 20 communities in the northeast region of Wisconsin. Home and garden, automotive and hardware offerings are also part of the Larsen Cooperative business.
CHS Inc. is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, livestock feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that are based on management's current expectations and assumptions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company undertakes no obligations to publicly revise any forward-looking statements to reflect future events or circumstances. For a discussion of additional factors that may materially affect management's estimates and predictions, please view the CHS Inc. annual report filed on Form 10-K for the year ended Aug. 31, 2011, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.
SOURCE CHS Inc.