Land O’Lakes, Inc. , one of the nation's largest cooperatives, has signed a letter of intent to acquire Southern States Cooperative Inc.'s animal feed business. Southern States Cooperative is based in Richmond, Virginia. This letter follows the announcement earlier this year that Southern States had entered into a supply agreement with Land O’Lakes, Inc. through its WinField United crop inputs and insights unit.
“This is an excellent opportunity to expand our relationship with Southern States and increase our animal feed business in the eastern U.S.,” says Chris Policinski, president and CEO, Land O’Lakes, Inc.
The proposed acquisition reinforces a commitment by both parties to help their customers continue to compete with industry-leading products and services in an era of industry consolidation.
“We are looking forward to engaging with the Southern States members and customers to understand their needs,” says Beth Ford, group executive vice president and chief operating officer, Land O’Lakes, Inc. “We plan to provide uninterrupted access to the Southern States-branded products customers trust for their animals, and we will work every day to deliver the quality, innovation and expertise they expect of us.”
“We are pleased with the opportunities this partnership with a fellow cooperative brings to Southern States,” says Jeff Stroburg, President and CEO of Southern States Cooperative. “Our members will continue to receive the same level of service from our retail locations while benefitting from Land O’Lakes’ feed business, Purina Animal Nutrition and their knowledge and experience in manufacturing the quality feed our customers expect.”
The purchase is expected to be completed in January 2017.