MONTICELLO — Topflight Grain Inc. of Monticello will be part of an investment by Ceres Solutions, which is acquiring a percentage of Topflight’s parent company, United Prairie LLC.
Ceres will pursue a 20% ownership of United Prairie, reducing existing stakeholders’ shares accordingly. The agreement should be finalized in the spring and the transaction should be completed by Aug. 1.
United Prairie is an agricultural supply company in Illinois with 20 investing partners, including Topflight Grain. The agreement will create a partnership between the two. Each will continue to operate independently in regard to customer service and marketplace competition.
“The proposal demonstrates the ongoing importance of developing strong strategic partnerships to continue to serve local farmers with products, services, technologies, and innovation,” said Curt Miller, CEO of United Prairie. “United Prairie’s direction has always been to add cooperative owners that enhance our ability to provide the highest level of service and value to the growers we serve.”
Ceres is a farmer-owned cooperative based in Crawfordsville, Ind. with agronomy products and services available in 32 locations in Indiana and Michigan.
Contact Valerie Wells at (217) 421-7982. Follow her on Twitter: @modgirlreporter
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