Golden Growers Cooperative and Cargill Inc. announced today that Cargill will buy out Golden
Growers Cooperative’s interest in ProGold LLC at the end of the current lease which concludes
on December 31, 2026.
ProGold LLC owns a corn wet milling plant in Wahpeton, ND that Cargill has been leasing since
1997. In 2022, Cargill purchased 50% interest in ProGold from American Crystal Sugar and
became 50/50 owners with Golden Growers Cooperative. At the same time, Cargill and Golden
Growers established certain conditions that would need to be met with an intention of forming a
long-term joint venture. Due to the economic environment in the past three years, it has become
clear that those conditions are unable to be achieved. Cargill has informed Golden Growers that
they will work with the Cooperative on proceeding with the buyout of Golden Growers interest
in ProGold LLC at the end of the lease period.
“Over the past 30 years, Cargill has been a trusted partner for Golden Growers and our farmer
members. While we would have preferred to maintain a long-term interest in the plant, we
understand that circumstances beyond our control have limited our ability to accomplish that
goal,” stated Golden Growers Chairman Brett Johnson. “Our cooperative and its members can
be proud of what they accomplished by building the first major corn processing facility in the
region. Cargill’s continued capital investment in the facility shows their intent to maintain a
continued presence in the region well into the future.”
On behalf of Cargill, Andy Joehl, VP Trading and Risk Management:
“Golden Growers has been a tremendous partner over the years. The facility in Wahpeton has
been and will continue to be a leader in safety, a plant our customers value, and a strong
demand center for corn in the area. While our partnership with Golden Growers Cooperative
will come to an end, there will be no change in our operations at the facility and our partnership
with farmers in the area will continue on. We look forward to the future, supporting North
Dakota, South Dakota and Minnesota agriculture, and are deeply thankful for the years of
success with Golden Growers.”
Press statement from Golden Growers and Cargill
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