Agtegra to study possible merger with ND-based co-op
AgtegraCooperative has signed a letter of intent with North Dakota-based Farmland Co-op Inc. that allows the cooperative to “study the benefits, opportunitiesandrisks of Farmland becoming part of Agetegra,”according to a letter sent toAgtegra’smember-owners April 18.
Farmland approachedAgtegraabout the possibility earlier this year.
“It’s nothing that we were out looking for,” saidGreg Smith, Agtegra director of communications. “At this point, we’ve basically said ‘let’s have a conversation.’ That conversation has been started and it’s a possibility.”
Farmland will work through details and its members and employees will decidewhether or not to joinAgtegraover the next several weeks.However, it may not be necessary forAgtegra’smembers to vote on the transaction, according to the letter.
Farmland has seven employees and about 100 members.