River Valley Cooperative, headquartered in Davenport, IA, and Michlig Grain Holdings Thursday signed an agreement for River Valley Cooperative to acquire the assets of Michlig Grain Holdings. River Valley Cooperative is expected to complete the acquisition by the end of May 2020.
Michlig Grain Holdings, which celebrated their 40-year anniversary in 2019, manages seven commercial grain elevator facilities in Illinois with locations in Deer Grove, Manlius, Bradford, Sheffield, Cambridge, Mineral, and Broadmoor, and has revenues of about $130 million. Michlig Grain employs 30 people, who are expected to join River Valley Cooperative and continue serving Michlig Grain customers.
River Valley Cooperative is a full-service ag cooperative with annual sales in excess of $500 million. Owned by more than 2,800 farm families in Eastern Iowa and Northwest Illinois, River Valley Cooperative has 30 locations with more than 300 employees.
“The culture and values of River Valley Cooperative are consistent with what Michlig Grain has developed over its 40-year history, and I am excited to know that our customers will continue to get the same great service their loyalty deserves,” said Michlig Grain Holdings owner Don King in a press release.
“We look forward to working alongside Michlig Grain employees within the combined organization and continuing our mutual commitment to excellent customer service,” added Tim Burress, River Valley Cooperative CEO. “Having the ability to bring together two dedicated employee teams, shared culture and values, along with financial stability is a tremendous opportunity. This partnership, along with our recent agronomy facility expansions in the area, further enhances our commitment to serving customers in our Illinois trade area.”
