ST. PAUL, Minn., April 14, 2014 /PRNewswire/ -- River Country Cooperative, a diversified ag retailer based in South St. Paul, Minn., and CHS Inc. (NASDAQ: CHSCP), the nation's leading farmer-owned cooperative, have completed their study of a formal business merger between the two and will move the process forward, pending further due diligence. The proposed business agreement will be voted upon by River Country Cooperative's membership this summer.
"The business is solid today, but our customers' needs are changing and we want to grow our size and scale to meet those needs," said Myron Tank, chairman of the board, River Country Cooperative. "We looked at a number of different ways to do that and determined CHS would be the best partner to align with for the future."
"Our commitment is always to our owners and customers around how we can help them grow and succeed," explained John McEnroe, executive vice president, CHS Country Operations. "The business opportunity that allows us to expand our resources within our core territory is certainly a strong benefit to our owners."
In business since 1935, River Country Cooperative is a full-service supplier, providing fuel, fertilizer, grain and feed products and services to customers from 14 locations in east-central Minnesota.
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, animal 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, 2013, 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.