Members of Jackson-Jennings Farm Bureau Cooperative Association, Inc. and Premier Companies (Premier Ag Co-op, Inc) have voted to approve a merger between the two cooperatives. The merged organization will keep the Premier Companies name and will serve 14 counties in Southeastern Indiana with agronomic inputs, energy, grain marketing and a wide variety of other products and services for agriculture and consumers.
“Both cooperatives entered into this merger with extremely strong balance sheets and histories of exceptional service to the communities they serve,” said Harold Cooper, Premier CEO. “We believe our unification will create a diverse organization positioned to serve its members in Southeast Indiana efficiently and effectively in the dynamic and rapidly changing agriculture environment.”
The decision to merge was not entered into lightly. In a November joint-board meeting, the board of directors for Jackson-Jennings and Premier unanimously voted in favor of the merger. Prior to that vote, both Jackson-Jennings and Premier thoroughly reviewed financial and operating information for each company. This due diligence process took nearly a year to complete.
The merger creates a company of about $250 million. It means little change for members, customers or the approximately 200 employees. Jackson-Jennings was founded in 1929 and Premier was founded in 1923.
“Considerable work lies ahead,” Cooper said. “We pledge open communication with our members, employees and other stakeholders throughout this process. And, as always, we are committed to meeting the needs of our customers with quality products and services today and every day.”