Happy New Year from all of us at Premier Cooperative. I hope everyone was able to take a break over the holidays and spend time with family and friends.
As we kick off the new year, I have some exciting news to share regarding a new opportunity to expand our cooperative once again. We are pleased to announce that our board of directors has signed a Letter of Intent to begin a formal merger study with Farmers Union Cooperative, based in Ossian, Iowa. This step marks the start of a joint effort to assess from a financial, operational, and organizational perspective whether a partnership would enhance both cooperatives and deliver greater value to our members, employees, and communities.
Farmers Union is a member-owned cooperative serving producers and consumers through grain, agronomy, feed, and energy services, with its headquarters located about 30 miles west of Prairie du Chien. Premier and Farmers Union already share a successful feed partnership, so it was a natural transition to take a deeper look at expanding our relationship.
Signing the Letter of Intent does not mean a merger is finalized. It begins a detailed study to determine if merging would benefit both cooperatives and their members. If the results show clear member value, both Boards would move to a formal merger agreement that each board would approve before presenting to the members of Farmers Union for a final vote to join Premier. There is a lot of work to be done, and a lot that can happen between now and the final vote. Until then, I’ll do my best to keep you up to date with the progress or any changes.
On January 14th we will be holding the 133rd annual meeting of the members of Premier Cooperative. Reports from our CFO Andy Jones, board chairman Steve Burns, myself, as well as director election results and scholarship recipients will be part of the meeting.
While we will take a moment at the annual meeting to review last year’s results, we recognize that the past is behind us. Each of our divisions is fully engaged in the new fiscal year, ready to tackle the unique challenges and opportunities it brings. Just as the agriculture industry experiences its cycles, so does our business. However, with a solid balance sheet and strong sales performance across all divisions, we are well positioned to navigate the future challenges and opportunities as they come up.
Thank you for helping to make 2025 a successful year at your cooperative. We rely on your continued support to allow us to invest in the staff and fixed assets needed to help meet your needs while providing a safe and rewarding environment for the employee team. It remains our goal to be the Premier company for our customers and employees. As we look forward to 2026, we are committed to maintaining the high standards of service and excellence that you have come to expect from Premier Cooperative.
