Farmer’s Coop Oil Eyeing Merger
Date posted - August 5, 2016
In a recent letter to their members, Farmer’s Coop Oil Company, of Sheldon, announced that, since the departure of their former Manager Kevin Smith, their Board of Directors has been studying various possibilities for the future of the company. They explained that finding a qualified manager for a small company with their demographics is difficult. The letter goes on to explain that their Board has met with several neighboring Coop Boards to investigate merger possibilities.
According to the letter, the Farmer’s Coop Oil Company Board unanimously decided to enter into further discussions with the Cooperative Gas & Oil Company, with locations in Sioux Center, Ireton, and Boyden. The Board said they felt the merger of the two coops would best suit the members and employees of Farmers Coop Oil.
The Board of the Sheldon coop say they, along with the Board of Cooperative Gas & Oil Company, have begun a comprehensive study to determine how they can best meet the needs of their members, now and into the future. They say that each Board’s goal is that both Cooperatives gain as a result of the experience.
Dave Holm, a representative of the Iowa Institute for Cooperatives in Ames, has been retained to assist in coordination of this project, and the coops expect him to provide a completely unbiased and fair analysis of the process.
The Farmer’s Coop Gas & Oil Board closed their letter by encouraging their members to contact the Coop with any questions, comments, or suggestions they might have.