Sheldon, Iowa — Back in August we told you that Farmer’s Coop Oil of Sheldon was looking toward a merger with another area coop. That proposed merger is now becoming a reality.
Farmer’s Coop Oil Company Board President John Boender tells KIWA that a vote taken of Coop Oil Company members, calling for the coop to merge with Cooperative Gas & Oil Company of Sioux Center, Ireton, and Boyden, passed, with yes votes totaling more than 90% of the votes cast.
Back in August a letter to the Farmer’s Coop Oil Company’s members said that Farmer’s Coop Oil Company’s 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.
Following the more than 90% approval of the merger by Farmer’s Coop Oil’s members, Boender says the merger will officially take place on January 1, 2017.
