Mid-Iowa Co-op purchases minority stake in Sinclair Elevator

Mid-Iowa Cooperative’s northward expansion entered a new phase last week with the announcement of an initial investment in the Sinclair Elevator near Parkersburg and plans to buy a controlling stake at a later date.

“It’ll be a gradual process over a number of years. The investment in the new elevator at Grundy has brought us new opportunities such as the investment in Sinclair,” Mid-Iowa CEO Mike Kinley said, also referencing the construction of a large new grain storage facility north of Grundy Center.

According to a press release sent out on February 13, the two companies have long shared a mutual admiration for each other, and Sinclair’s facilities include one of the largest feed mills in the state—capable of producing 750,000 tons annually.

Presently, Mid-Iowa which includes eight locations, operates just one feed mill, a small unit in Beaman.

Both Kinley and Sinclair President Roger Baker, who has held his position since 1979, see the merger as a win-win for employees and farmers, and changes are not expected for the estimated 60 workers at the southern Butler County plant.

Read the full story in the February 21 edition.