A Bloomington, Ill.-based regional farm cooperative has become the first American co-op to link up with a co-op in Canada.
Growmark Inc., owned by more than 90 local member cooperatives that sell products under the FS trademark plus more than 100 grain-marketing cooperatives in Illinois, Iowa and Wisconsin, completed the purchase of the assets of United Co-operatives of Ontario for $34 million (U.S.).
The U.S. co-op gains feed mills, dry-fertilizer storage facilities, a distribution center and half ownership of UCO Petroleum Inc., a marketing unit jointly owned with Sun Oil of Canada.
The Ontario co-op has 40 member cooperatives and estimated 1994 sales of $134 million. Growmark posted 1994 operating earnings of $19.4 million on sales of $884 million.
