DEDICATED TO INTEGRITY, COMMITTED TO YOUR FUTURE
Here’s how a hybrid was born
In 1997, a worldwide ag company and a progressive Iowa cooperative created a joint venture. Cargill and Albert City Elevator, a Cooperative (Alceco), developed Ag Partners LLC to offer local producers the best combination of extensive financial and logistical assets with the traditional cooperative ability to share in profits and impact business decisions.
Ag Partners is a true partnership in which both parent companies have equal ownership and equal representation on an eight-member board of directors. Each partner retained ownership of its respective facilities (in exchange for annual lease payments from the LLC) and invested capital to ensure a strong start for the new company.
For over 100 years Alceco, the cooperative in the Ag Partners joint venture, has been serving Iowa producers. The co-op is owned and democratically controlled by its farmer-members and returns surplus revenue to them. Alceco merged with Midwest Farmers Cooperative on Dec. 1, 2008. Members elect 12 Alceco directors who retain responsibility and authority for the cooperative business.
All cooperative shareholders accrue patronage for their business with Ag Partners. The company differs from some farmer-owned cooperatives, though, because its equity policy is structured to contribute to the farmer-member’s cash flow while retaining equity for the future. Are you interested in Alceco membership? Click here.
How we invest in the future
Ag Partners continually invests in its facilities and equipment to keep pace with customer needs. The company also continually invests in grain storage upgrades and enhanced grain-drying capabilities to improve service when our customers are the busiest.
Ag Partners operates 18 facilities throughout Iowa. Our strong employee roster matches our commitment to service at each of these grain facilities, retail agronomy outlets, and feed mills.