In a joint statement issued Monday, the boards of directors of New Vision Co-op and Farmward Cooperative have declared the conclusion of their ongoing unification discussions.
The decision follows a two-month study in which the boards and leadership visited with employees and members, led focus groups, and toured each cooperative’s facilities in addition to conducting in-depth financial and governance reviews.
“While there were many great opportunities offered in a unification, our immediate focus is on serving our respective members, " said Farmward board chair, Dave Kadlec, who farms near Olivia, Minnesota. “The two cooperatives are a good match, but we want to take some more time to sit back and focus on our own teams while we continue to build upon the great partnership we’ve built in this process.”
“Our cooperatives are each in great financial shape, and our employees are energized for serving our members,” added New Vision board chair, Chad Wieneke, who farms near Adrian, Minnesota. “It’s been great to connect the teams at our two cooperatives. Those relationships are going to benefit our producers. It has benefitted the Boards.”
Each board expressed their gratitude to the member-owners and employees who shared their feedback, insights, and ideas during the study period.
Both Farmward and New Vision intend to continue identifying opportunities to grow, expand and improve their businesses.