DGQ-United Prairie look to merge
Members must approve deal first
United Prairie Cooperative (UPC) of New Town and Dakota Quality Grain Cooperative (DQGC) of Parshall have entered into a letter of intent to consolidate the two companies into one cooperative.
The boards of directors of both cooperatives have approved the letter of intent, which enables the businesses to work closely together to finalize the agreement prior to a vote of the full membership at each cooperative. The letter of intent is the product of careful consideration, analysis and evaluation conducted over the past 18 months, according to John Reese, CEO and general manager of UPC.
"The boards of directors have been focused on ensuring a long-term pathway of success for their members and customers," he said. "They feel this is the right decision at the right time for stakeholders of both cooperatives."