Shawano based Cooperative Resources International (CRI) announced Monday that they will be merging with Koepon Holding BV. The merger must go through government approval as well as the approval of the boards of directors and delegates from CRI. If all goes as planned, the merger would be finalized by mid-2018. CRI CEO Keith Heikes said the changing agriculture industry was a significant factor in the decision to merge.
“There’s increasing use of technology and more expensive technology and so we felt that long term that a position would be…to expand our access and pool our resources, particularly from a genetics standpoint,” Heikes said. “So this gives us an opportunity to have the largest breeding company in the world.”
The deal will only affect the parents companies, meaning that Gen Ex and Ag Source will continue to operate as separate brands. Heikes also said the GENEX headquarters will remain in Shawano and believes that good things are ahead.
“Long-term this should be very positive because this provides long-term stability for the organization,” Heikes said.
The headquarters of the new organization will be located at a yet to be determined location in Wisconsin.
