MFA Oil Sells Interest in Northwest Missouri Grain, LLC
May 31, 2022
MFA Oil Company, a farmer-owned energy supply cooperative, and MFA Incorporated, a grain marketing and farm supply cooperative, today announced an agreement under which MFA Incorporated will acquire full ownership of Northwest Missouri Grain, LLC.
Five years ago, the two companies came together to construct a state-of-the-art grain-handling facility just outside Hamilton, Mo. MFA Oil’s investment in the project was instrumental in financing its construction and providing operating capital. The two companies jointly agreed to exercise an option in the operating agreement that allowed MFA Incorporated to become the sole owner by purchasing MFA Oil’s one-third interest in the joint venture.
The grain-handling facility provides additional opportunities for members of both cooperatives to market their grain and maintains MFA Incorporated’s access to end-user markets to the south and southwest, including export markets.
“Together with MFA Incorporated, we successfully opened an operation that has brought new marketing opportunities to farmers in the region,” says Jon Ihler, president and CEO of MFA Oil Company. “We are proud to have played our part in helping to finance Northwest Missouri Grain, LLC.”
As MFA Incorporated assumes full ownership of the Hamilton facility, it’s worth noting the spirit of cooperation is powerful when like-minded organizations set sights on a goal.