Golden Growers Cooperative and Cargill Inc. have announced that Cargill will acquire Golden Growers' interest in ProGold LLC when the current lease expires on December 31, 2026. This $81 million transaction will conclude a long-standing partnership and affect the ownership structure of the corn wet milling plant in Wahpeton, ND.
Key points of the announcement include:
- Cargill has been leasing the ProGold facility since 1997 and became a 50% owner alongside Golden Growers in 2022.
- Economic conditions in the past three years have made it unfeasible to meet previously established conditions for a long-term joint venture.
- The buyout will not affect Cargill's operations at the facility or its partnerships with local farmers.
- Golden Growers Cooperative members will likely vote on a plan to dissolve the cooperative in spring 2027.
Brett Johnson, Golden Growers Chairman, expressed pride in the cooperative's accomplishments while acknowledging the changing circumstances. Andy Joehl, Cargill's VP of Trading and Risk Management, affirmed the company's commitment to the facility and regional agriculture.
