GROWMARK and Legacy Farmers Cooperative Announce Joint Grain Venture
Venture will bring expertise and opportunities to grain customers in Ohio
Bloomington, Illinois and Findlay, Ohio (August 19, 2021) – GROWMARK, Inc. and Legacy Farmers Cooperative are excited to announce they are forming a joint venture to purchase and operate a grain facility west of Defiance, Ohio. Together, GROWMARK and Legacy Farmers Cooperative will form a new Retail Grain Unit called Apex Grain Marketing, LLC which will purchase the facility from Consolidated Grain and Barge Co.
The facility is a fully automated 2.5 million bushel upright storage capacity grain elevator and 1.3 million bushel pile capacity that loads 90 car CSX trains. Inbound dumping capacity is 40,000 bushels per hour, and load-out speed is 60,000 bushels per hour. The facility was built in 2013 and it sits on just under 120 acres, providing room for expansion.
“Two strategic objectives identified by the GROWMARK Grain Division’s 2025 strategic plan are to enhance partnerships with our members and grow into new geographies,” said GROWMARK Grain Division Executive Director Matt Lurkins. “Apex achieves both objectives. Northwest Ohio is a new geography for Apex, GROWMARK, and Legacy Farmers Cooperative to provide grain storage, handling, and marketing opportunities.”
“We are excited for this new chapter of growth with Legacy Farmers Cooperative and the opportunity for Apex to work cooperatively and make a positive impact for agriculture in Northwest Ohio,” added Legacy Farmers Cooperative CEO Mark Sunderman.
Legacy Farmers Cooperative and GROWMARK will both have investment in Apex Grain Marketing, LLC and Legacy Farmers Cooperative will provide management services to Apex. Apex will be governed by a board of directors consisting of both GROWMARK and Legacy Farmers Cooperative representatives.
The acquisition is expected to be finalized on September 1.
About Legacy Farmers Cooperative:
Legacy Farmers Cooperative, headquartered in Findlay, Ohio, offers agronomy, agri-finance, precision agriculture, nutrient management, energy, feed, grain, and turf products and services through its locations across Northwest Ohio. More information is available at www.legacyfarmers.com.
GROWMARK is an agricultural cooperative serving almost 400,000 customers across North America, providing agronomy, energy, facility engineering and construction, and logistics products and services, as well as grain marketing and risk management services. Headquartered in Bloomington, Illinois, GROWMARK owns the FS trademark, which is used by member cooperatives. GROWMARK also owns and operates SEEDWAY, the largest full-line seed company in the United States. More information is available at growmark.com.
About Consolidated Grain and Barge Co.:
Consolidated Grain and Barge Co., a wholly owned subsidiary of CGB Enterprises, Inc., is headquartered in Covington, LA, and operates a network of grain facilities across the Midwest. In addition to grain facilities, CGB Enterprises, Inc. has dedicated operations in logistics and transportation (CTLC), agri-finance (AGRIfinancial Services), soybean processing, producer risk management, and other related businesses. For more information on CGB and its family of businesses, please visit www.cgb.com.