INDIANAPOLIS – Indiana-based agriculture and energy cooperatives Ceres Solutions Cooperative Inc. and Co-Alliance Cooperative Inc., announced that both boards and memberships have overwhelmingly approved the merger. The effective date of the merger is March 1, and the company will be named Keystone Cooperative Inc. This merger creates a farmer-owned cooperative focused on delivering an unmatched customer experience, with the resources needed to support farmer-owners as they grow into the future.
Keystone Cooperative will serve customers in Indiana, Ohio, Michigan and Illinois. It will have four core divisions, including Energy, Agronomy, Grain and Swine and Animal Nutrition. Keystone will employ over 1,700 dedicated team members throughout the states served, with expected annual revenue of $3 billion.
The boards have chosen Kevin Still, current president and CEO of Co-Alliance, to be the president and CEO of Keystone Cooperative. Ceres Solutions current CEO Jeff Troike will become the executive vice president of Keystone Cooperative Inc., alongside Co-Alliance’s current executive vice president, Scott Logue.
“Keystone Cooperative brings together two financially-strong, legacy-rich and highly successful cooperatives. This historic merger creates a cooperative that is equipped to navigate the ever-changing markets of today’s agriculture and energy industries,” said Still. “This powerful combination will build a cooperative that maximizes efficiencies, capitalizes on technology, and has the resources to enhance our customer experience while preparing for the needs of our future stakeholders.”
“Our membership has recognized the value of this combination, and we are looking forward to achieving our promise of a cooperative that is focused on the success of our members, the vitality of our rural communities, and providing an unparallelled return for our farmer-owners,” Troike said.
Keystone Cooperative will be headquartered in Indianapolis.