Crystal Valley and New Vision Move Forward with Member Vote Following Merger Study
BREWSTER & MANKATO, Minn. (July 25, 2024) — Crystal Valley and New Vision ag cooperatives are pleased to announce that after a thorough merger study, the Boards of Directors for both organizations have agreed to move forward with a member vote. This vote will determine the potential unification of the two cooperatives. The decision follows an in-depth assessment of the potential benefits and challenges this partnership could offer to our members.
The merger study began in May 2024 and included detailed analyses of the financials, operations, processes, and employee cultures of both companies. Joint Employee Focus Group meetings were conducted in June, followed by New Vision Market Meetings, and Crystal Valley Customer Informational Meetings in July. Additionally, a virtual independent Farmer Focus Group meeting, facilitated by Paulsen Agency from Sioux Falls, took place in mid-July.
More definitive dates regarding producer information and producer meetings will be communicated as they are established.
"We are excited to take the next step towards unification after a thorough and collaborative study,” stated New Vision CEO Matt Ashton, “The potential benefits for our members and employees are substantial, and we believe this partnership will strengthen our ability to serve the member-owners. We look forward to the upcoming member vote and the opportunities ahead.”
"Throughout this process, our focus has been ensuring that the unification would provide meaningful advantages for our members. The numerous discussions and in-depth discoveries have shown promising partnerships between Crystal Valley and New Vision. Gene Meyer, Crystal Valley Board Chair, states, “As we move forward with the member vote, we remain committed to transparent communication and making decisions that will benefit our stakeholders long-term."
If the member vote is favorable, the new business entity will officially form March 1, 2025. Members are encouraged to participate in the voting process and to contact either New Vision or Crystal Valley Board Member with any questions or concerns.
Updates and further information can be found on the Unification Website, and we encourage all members and employees to stay informed and engaged.
Join us for our Merger Member Meetings to learn about the proposed merger between New Vision and Crystal Valley. This is a great opportunity to get all your questions answered and understand what this means for you and our communities.
Meeting Dates:
September 10, 2024
- 10:00am: Minnesota West Community College, 1450 College Way, Worthington
- 2:00pm: Big Top Events, 321 W Hatting St, Luverne
September 11, 2024
- 10:00am: AGCO Fendt Lodge, 202 Industrial Park, Jackson
- 2:00pm: Windom Community Center, 1750 Cottonwood Lake Dr, Windom
September 12, 2024
- 10:00am: The Purple Goose, 228 N. Main St. Janesville
- 2:00pm: Lake Crystal American Legion, 600 S. County Rd, Lake Crystal
About Crystal Valley
Headquartered in Mankato, Minnesota, Crystal Valley has 17 locations. The cooperative dates back to 1927 and today, serves more than 2,100 agricultural producers with quality products, excellent facilities and equipment, and first-class professional employees.
Crystal Valley Cooperative serves farmers in southern Minnesota and northern Iowa, offering a full suite of agronomy products and services, a line of energy products, grain handling and marketing. They also offer animal health and nutrition products and livestock feed production. The cooperative’s professional staff of experienced employees are dedicated to delivering superior value to customers.
About New Vision
Headquartered in Brewster, Minnesota, New Vision has 18 locations and more than 2,200 member-owners in southwest Minnesota, northwest Iowa, and eastern South Dakota. While recognizing their roots back to 1901, New Vision has a strong focus on being a progressive leader to help the success of today’s producers.
From grain marketing and agronomy to feed and livestock production services, New Vision Co-op caters to diverse customer demands. They strive to be the highest quality feed supplier in the area and produce custom feed products for over 30 countries which are shipped all over the world. The Agronomy and Grain teams work together every day to help producers maximize the profitability of their farming operations through technology and updated products and services.
Frequently Asked Questions for the Proposed Merger of Crystal Valley and New Vision
Below, you will find a list of frequently asked questions, where key points and concerns regarding the merger between Crystal Valley and New Vision Cooperative are addressed. For our members, the primary focus areas include equity, the strength of our people, strong balance sheets, and maintaining our strong local connections. For our employees, we emphasize the benefits of the merger, stability of work locations, and improved job efficiencies.
Annual Reports
The most recent annual report information for both cooperatives has been included below.
August 7
Following the completion of the Crystal Valley and New Vision Cooperative Merger Study, a decision has been made regarding the Main Office for the new company.
The newly formed company’s main office would be based in Mankato, MN, at what is the current Crystal Valley main office. The current New Vision main office building will still be used in Brewster, MN, as a regional office.
Current Crystal Valley Main Office - Mankato, MN
Current New Vision Main Office - Brewster, MN
July 30, 2024
Following the completion of the Crystal Valley and New Vision Cooperative Merger Study, a decision has been made regarding the CEO position of a new company.
If the merger is approved, Matt Ashton, the current New Vision CEO, will become the new company’s CEO. Roger Kienholz, the current Crystal Valley CEO, would retire on the merger’s effective date. If the merger is not approved, the two CEOs will continue to manage their respective cooperatives.
Learn More About Matt Ashton, New Vision CEO
“I want to take this opportunity to introduce myself. My name is Matt Ashton, and for the past five years, I have had the honor of being the CEO at New Vision Coop in Brewster, Minnesota.
My wife Jessica and I live in Sioux Falls, South Dakota, and have a nine-year-old son and an eleven-year-old daughter.
I graduated from Iowa State University in 1997, and apart from a two-year stint in the private grain sector, I have worked at local cooperatives and with cooperative/private grain company joint ventures. I am excited about the positive difference we choose to make with employees
and customers daily through the cooperative system.
I have a strong passion for the cooperative system and the value that it brings to its member owners, the employees, and the communities they serve as well as the values that cooperatives stand for and our responsibilities.
Throughout my career, I have had the privilege of serving on several community organizations and representing our industry as a Board Director at the National Feed and Grain Association. I am currently a member of the Board of Directors of AGP Cooperative Inc.”
July 1, 2024
The New Vision and Crystal Valley boards met on June 19 and agreed to continue the unification study. The next joint board meeting was scheduled for July 23.
New Vision plans to provide an opportunity for questions at their July market meetings (July 16-18) and will schedule more producer meetings later this summer if the boards decide to proceed.
Crystal Valley has scheduled informational meetings with board members as follows:
- July 16 – Jackson
- July 17 – Janesville and Lake Crystal
Crystal Valley, New Vision to explore unification
Study committee will explore potential benefits for members, employees
BREWSTER and MANKATO, Minn. (May 30, 2024) - Crystal Valley and New Vision ag cooperatives are exploring a potential unification, the organizations announced today. The Boards of Directors for each cooperative have agreed to engage in a merger study to determine whether partnering would create mutual benefits for employees and members.
Producers today face a complex agriculture landscape, with pressures including insurance costs, market challenges, labor shortages, natural events and regulatory restrictions. Due to these factors and more, both cooperatives have previously explored opportunities to grow and capture better economies of scale.
“We exist to give our members and employees the best possible opportunities to grow their businesses and careers,” said New Vision CEO Matt Ashton. “We are committed to maintaining a strong local presence, strengthening the cooperative model and investing in the future. Crystal Valley shares that commitment, and we look forward to learning more as we explore this opportunity.”
“Both cooperatives have a strong history of serving members and employees, and we are eager to learn more about how each of our capabilities could complement each other,” said Crystal Valley CEO Roger Kienholz. “At this stage, our priorities are to learn more about each organization and to uncover all potential benefits [and challenges] to our stakeholders”
Crystal Valley and New Vision will spend the summer gathering details about operations, processes and employee cultures between the two organizations. There will be meetings between departments as well as joint board meetings. The study will look at issues including:
Alignment of values, missions, and visions between Crystal Valley and New Vision.
Strong feed assets by both serving a diverse customer base from six manufacturing facilities.
Significant grain presence with mutual benefits from increased rail line access for national and global markets.
Agronomy products and services for fertilizers, seed, and crop protection.
Energy business including refined fuels, lubricants, and propane.
Long-term financial and patron equity strategies.
Boards for both cooperatives encourage members and employees to visit the website to submit questions or concerns and to see updates on the study’s progress and to reach out to board members to share insights into the opportunity.
The study is scheduled for completion before harvest 2024, with a potential member vote taking place pre-harvest. If approved, the new business entity would officially form during the winter of 2025.
Summer 2024
Work together to complete the merger study
Late Summer 2024
Joint board meetings to review study findings
Pre-harvest 2024
Possible merger vote should the joint boards decide to move forward