LUCKEY FARMERS, INC. AND MID-WOOD INCORPORATED ENTER INTO UNIFICATION DISCUSSIONS:

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May 08, 2024, 16:00 ET

WOODVILLE, Ohio, May 8, 2024 /PRNewswire/ -- The Boards of Directors of Luckey Farmers, Inc. (Luckey Farmers), Woodville, OH and Mid-Wood Incorporated (Mid-Wood), Cygnet, OH have unanimously agreed to proceed with a formal unification study, which would combine the business segments of both cooperatives.

Both cooperatives possess solid balance sheets, share common values and company cultures, and have similar operating practices making this an appealing opportunity to explore. In addition, both Boards of Directors believe the best time to consider a merger is when both cooperatives are performing well in their respective markets.

Based on their initial study, the Boards of Directors of both cooperatives believe a merger could create significant value for member-owners through improved efficiencies, expanded access to resources and ability to influence supply chains; all while providing enhanced opportunities to attract and retain the best employees to keep the cooperatives strong. If the ongoing study indicates a merger is beneficial for both cooperatives, educational meetings would be held for members and then a Plan of Merger would be presented for a membership vote in September of 2024.

The study process will be guided by the Board of Directors of each cooperative. Their job is to approve the investigation process, provide input, ask questions, review all studies and reports, communicate with members, make recommendations, and represent the interests of each cooperative's membership. Each board's overlying goal is that both cooperatives gain as a result of this process.

Both cooperatives have a rich history in Northwest Ohio. Luckey Farmers was established in 1919, and Mid-Wood was established in 1918. Each cooperative went on to be incorporated as they are today in 1968 and 1967 respectively. Both cooperatives have complementary businesses serving their farmer-owners in the areas of Grain, Agronomy, Energy and Feed.

About Luckey Farmers, Inc.

Luckey Farmers was established in 1919 and is a grain marketing and farm supply cooperative located in Northwest Ohio, and Southeast Michigan, with facilities in Lucas, Monroe, Ottawa, Sandusky, and Wood counties.

Media Contact:
Julie Myers
[email protected]

SOURCE Luckey Farmers, Inc.