Select Milk Producers Inc. and Continental Dairy Products Inc. announced their merger Sept. 2, retroactively effective Sept. 1. They will continue to operate as Select Milk Producers Inc.
Before the merger, Select consisted of 61 large farms with approximately 136,000 milking cows producing about 4.3 billion pounds of milk per year for local cheese plants and Class I milk plants in New Mexico and Texas.
Continental consisted of 36 large dairy farms with approximately 76,000 milking cows producing about 2 billion pounds of milk per year in Ohio, Indiana and Michigan.
The merger will simplify Select's marketing and branding by presenting one unified co-op to the market, said CEO Mike McCloskey in a statement. The combined Select will continue to develop organic dairy products and support its customers' needs.
McCloskey says the merger will also increase their borrowing capacity, decrease financing costs, provide access to new markets and potentially expand the customer base.
The two co-ops have their principal administrative offices in Artesia, New Mexico, andare managed by the same executive team. PD
—From Select Milk Producers Inc. news release
