MANLIUS — River Valley Cooperative, headquartered in Davenport, Iowa, and Michlig Grain Holdings LLC announced Thursday they have signed an agreement for River Valley Cooperative to acquire the assets of Michlig Grain Holdings, LLC.
River Valley Cooperative is expected to complete the acquisition by the end of May.
“The culture and values of River Valley Cooperative are consistent with what Michlig Grain has developed over its 40-year history, and I am excited to know that our customers will continue to get the same great service their loyalty deserves,” Don King, owner of Michlig Grain, said.
Michlig Grain, which celebrated its 40-year anniversary in 2019, manages seven commercial grain elevator facilities in Illinois with locations in Deer Grove, Manlius, Bradford, Sheffield, Cambridge, Mineral and Broadmoor, and has revenues of approximately $130 million.
Michlig Grain employs 30 people, who are expected to join River Valley Cooperative and continue serving Michlig Grain customers.
River Valley Cooperative is a full-service ag cooperative with annual sales in excess of $500 million. Owned by more than 2,800 farm families in Eastern Iowa and Northwestern Illinois, River Valley Cooperative has 30 locations with more than 300 employees.
In addition to the grain business, River Valley Cooperative offers products and services in agronomy, energy and feed. River Valley Cooperative’s parent roots date back to 1906.
Find more information at rivervalleycoop.com and michliggrain.com.