Dakota Plains Cooperative approves merger with CHS Inc
Members of North Dakota-based Dakota Plains Cooperative approved a merger with top U.S. farmer cooperative CHS Inc effective Jan. 1, pending approval by the CHS board, the companies said in a statement on Thursday.
The merger was approved last week by 92 percent of Dakota Plains members, they said.
The companies did not release any financial details.
Dakota Plains currently operates 15 facilities in central and southeast North Dakota, offering farmers agronomy and grain marketing services and energy, seed and feed products.
The merger would expand CHS's footprint in the country's largest spring wheat producing state which has seen corn and soybean production rise in recent years, mostly in the fertile Red River Valley along the state's eastern edge.
The companies said in August that plans under discussion included construction of three new fertilizer plants.
The pending merger is the latest deal in a broader wave of consolidation across the global agribusiness sector dominated by the larger "ABCD" companies Archer Daniels Midland Co, Bunge Ltd, Cargill Inc and Louis Dreyfus Corp .