|Prairie Farms Dairy and Swiss Valley Farms Merger Approved|
CARLINVILLE, Ill., (February 7, 2017) - Prairie Farms Dairy and Swiss Valley Farms announced today that members of both cooperatives have approved the proposed merger with overwhelming support. Both companies are industry-leading farmer-owned cooperatives and rank among USDA's list of Top 100 Cooperatives. The merger agreement was originally announced late last year, and is expected to close on March 31, 2017.
"We had a great business relationship with Swiss Valley for many years, and are pleased to have reached this important milestone. Much has changed since our cooperative was founded in 1938, and the merger reflects our purpose, which is to generate sales and profit for our cooperative members," said Ed Mullins, Prairie Farms CEO.
"Consumption of fluid milk, our core product, has been declining for years, while cheese consumption has increased nearly 150 percent since 1975. The complementary nature of Swiss Valley's product line will help counter this major shift. At the same time, Swiss Valley is looking to grow their export business, and with the merger, they will gain access to many Prairie Farms
products, such as extended shelf life milk and cream," he added.
The combined company will operate under the name of Prairie Farms Dairy, Inc., and both organizations will retain their brand names, Prairie Farms Dairy and Swiss Valley Farms, respectively. The company will remain under the direction of Prairie Farms CEO Ed Mullins. Chris Hoeger, former CEO of Swiss Valley, will continue with the company as President of the newly formed Prairie Farms Cheese Division.
FOR MORE INFORMATION:
314-771-4407 Ext. 211