LYNDEN, Wash., April 6, 2015 /PRNewswire/ -- The voting producers of Whatcom Farmers Cooperative (WFC), a full-service ag cooperative based out of Lynden, Wash., have approved a merger with CHS Inc. (NASDAQ: CHSCP), the nation's leading farmer-owned cooperative. The proposal will become effective in July 2015, pending appropriate due diligence by both organizations and approval by the CHS Board of Directors.
"I want to thank the producers of Whatcom Farmers Co-op for turning out and making a clear statement that we should move forward with the merger. A lot of time and effort by the board of directors went into the decision to bring this proposal to our members," said WFC Board Chairman Jeff Bedlington. "WFC will remain a locally based company, staying true to its roots. We are excited for the opportunities that CHS and WFC can provide for our employees and customers."
"CHS continually looks for strategic opportunities that strengthen our ability to help our farmer-owners grow their businesses," said Lynden Johnson, executive vice president, CHS. "We're very pleased to be able to build on the already-strong local expertise for producers in this trade territory."
Customers should expect a smooth transition, including continuity of staffing at its current locations. Don Eucker will continue to lead the group as general manager.
Founded in 1941 as Whatcom Grange, today Whatcom Farmers Cooperative (1982) provides the products, services and expert advice that farmers, agricultural businesses and homeowners need through its agronomy, energy and retail store operations. WFC has locations in the communities of Lynden, Bellingham, Fairhaven, Ferndale, Blaine and Nooksack which serve customers throughout Whatcom County.
CHS is a leading 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. The 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. CHS 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, 2014, which can be found on the Securities and Exchange Commission web site (www.sec.gov) or on the CHS web site www.chsinc.com.
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SOURCE CHS Inc.