PAP merger with Badger Co-op overwhelmingly approved in recent vote
Wednesday, September 16, 2015
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Prairie Ag Partners (PAP) and Badger Farmers Cooperative patrons Tuesday approved a merger between the two companies that will go into effect Jan. 1, 2016. A management agreement will be in place to get the Badger facility through this year’s harvest.
According to Prairie Ag Partners’ website, 98 percent of Badger patrons voted in favor of the merger with an 80 to 2 vote. Ninety-one percent of PAP patrons voted in favor of the merger with an 82 to 10 vote.
PAP board members Sept. 9 told those attending a merger informational meeting that a merger with Badger would offer an opportunity for the local cooperative to grow while being a fair plan for Badger’s patrons.
About 40 people attended the morning meeting at the Lake Preston Legion Hall. A similar informational meeting was held in the afternoon in Arlington.
PAP board president Paul Casper said that both boards are on the same page and they feel PAP can expand its opportunities without undue financial stress being put on the co-op. He said that the PAP offer is the only merger offer Badger received that would keep the facility a co-op, something the Badger board wants.
“We think this is the best value-wise and it is the best thing for either group,” Casper said, commending the Badger board for wanting to remain a co-op.
A couple of buyout offers, including one from PAP, were on the table in case the merger didn’t go through.
The De Smet News