Co-Alliance & Ceres Solutions Enter Due Diligence
Aug 25, 2023
In a groundbreaking move to increase collaboration and shared growth, Indiana-based agriculture and energy cooperatives, Co-Alliance and Ceres Solutions, are pleased to announce that they are actively engaging in a comprehensive due diligence process. This strategic initiative will explore opportunities for strengthening the cooperatives’ alliance and most importantly enhance the benefits offered to their farmer members.
The due diligence process will involve a thorough examination of each cooperative's financial, operational, and organizational aspects. By conducting this analysis, both cooperatives seek to gain a deeper understanding of their respective strengths, synergies, and areas for improvement, with the ultimate goal of creating a resilient and effective alliance.
This due diligence process comes after years of analyzing opportunities together and the successful performance of their joint venture, Endeavor Ag & Energy. Endeavor was formed three years ago and serves central Michigan in the areas of agronomy, propane and feed.
Tim Burke, Chairman of Co-Alliance’s Board of Directors, expressed optimism about the prospect, stating, “This represents a significant step towards a more prosperous future for our members. By assessing our capabilities and identifying synergies, we are poised to unlock new opportunities and enhance the services and support each cooperative currently provides to our respective members."
Rick Brubaker, Chairman of Ceres Solutions' Board of Directors, affirmed their commitment to the process, saying, "We believe that this collaborative effort will lead to mutual benefits for both cooperatives and their members. We are excited about the potential for growth and innovation that can emerge from this process."
Due diligence is expected to take three months to complete, during which both cooperatives will work closely with their respective leadership teams and external experts to conduct a thorough evaluation. Once the process is finalized, the cooperatives will consider the findings and explore various strategic options. Those options may include expanded services, improved operational efficiencies, and increased member benefits.
Members of both cooperatives can look forward to regular updates on the progress of this due diligence effort. Additionally, there will be opportunities for members to provide input and feedback throughout the process to ensure that the resulting alliance aligns with their needs and aspirations.
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