Announcement from CEO and Board Chairman
May 04, 2020
Dear Valued Patron:
We want to share with you the news that United Farmers Cooperative has signed a purchase agreement with a development firm for the sale of the 9.4-acre location in downtown Waconia. The site, as you may know, currently is the location of our retail store, an agronomy plant which we are now decommissioning, and a propane storage facility.
The buyer, whose name is not being disclosed, intends to redevelop the property, but has not announced specific plans. A due diligence period is underway, and the buyer intends to share more details for the development of the property in the coming months.
This was a very difficult decision for the UFC board and leadership, but one that was a necessity to allow UFC to focus on core businesses that help current and future generations of agricultural producers and to fulfill the fiscal responsibilities to our member owners. In addition, the competitive retail landscape has evolved significantly over the years and challenged profitability. Waconia is a growing community and by relocating our agriculture- and energy-related businesses will ease congestion and enhance safety in the area.
We are proud of the significant improvements the team has made the last few years and are committed to supporting our valued Waconia staff through this transition and are exploring options for assistance.
UFC will continue to serve its farm supply, rural lifestyle and equine customers from its other locations, including its Maple Plain farm store, Cologne and Hamburg locations.
Sincerely,
Kevin Lauwagie Mitch Altermatt
Board Chairman CEO/General Manager
We want to share with you the news that United Farmers Cooperative has signed a purchase agreement with a development firm for the sale of the 9.4-acre location in downtown Waconia. The site, as you may know, currently is the location of our retail store, an agronomy plant which we are now decommissioning, and a propane storage facility.
The buyer, whose name is not being disclosed, intends to redevelop the property, but has not announced specific plans. A due diligence period is underway, and the buyer intends to share more details for the development of the property in the coming months.
This was a very difficult decision for the UFC board and leadership, but one that was a necessity to allow UFC to focus on core businesses that help current and future generations of agricultural producers and to fulfill the fiscal responsibilities to our member owners. In addition, the competitive retail landscape has evolved significantly over the years and challenged profitability. Waconia is a growing community and by relocating our agriculture- and energy-related businesses will ease congestion and enhance safety in the area.
We are proud of the significant improvements the team has made the last few years and are committed to supporting our valued Waconia staff through this transition and are exploring options for assistance.
UFC will continue to serve its farm supply, rural lifestyle and equine customers from its other locations, including its Maple Plain farm store, Cologne and Hamburg locations.
Sincerely,
Kevin Lauwagie Mitch Altermatt
Board Chairman CEO/General Manager