Cargill has reached an agreement to acquire Golden Growers Cooperative's 50% stake in ProGold LLC, the owner of a corn wet milling plant in Wahpeton, North Dakota. The acquisition will take place at the end of the current lease agreement on December 31, 2026, with Cargill paying $81 million for Golden Growers' interest.

The ProGold plant produces high-fructose corn syrup, corn gluten feed and meal, and corn germ, which is sold for corn oil production. Cargill has operated the plant and marketed its products since the inception of the partnership.

The partnership between Cargill and Golden Growers began in 1997 when Cargill leased the ProGold plant, which was initially developed by Golden Growers to provide value-added processing opportunities for corn growers in the Dakotas and Minnesota. In 2022, Cargill acquired a 50% interest in ProGold from American Crystal Sugar, forming a 50/50 ownership with Golden Growers.

While both companies initially aimed to establish a long-term joint venture, the economic conditions of the past three years have made this goal unfeasible.

"Over the past 30 years, Cargill has been a trusted partner for Golden Growers and our farmer members," said Brett Johnson, chairman of Golden Growers. "While we would have preferred to maintain a long-term interest in the plant, we understand that circumstances beyond our control have limited our ability to accomplish that goal."

Johnson emphasized the significance of the ProGold plant as the first major corn processing facility in the region and expressed confidence in Cargill's commitment to the region through continued investment in the facility.

Andy Joehl, vice president of trading and risk management at Cargill, acknowledged Golden Growers as a "tremendous partner" and reiterated Cargill's commitment to the Wahpeton facility and the surrounding agricultural community. "The facility at Wahpeton has been and will continue to be a leader in safety, a plant our customers value, and a strong demand center for corn in the area," Joehl said.

Golden Growers, established in 1994, currently has approximately 1,500 members, many of whom also grow sugar beets and other crops. The cooperative plans to dissolve in the spring of 2027, with a vote on the dissolution plan expected to take place at the upcoming annual meeting.

This acquisition marks the end of a significant chapter in the history of both Cargill and Golden Growers, while paving the way for Cargill to continue its operations at the Wahpeton plant and its support of the regional agricultural community.